hahahaha No way man...thats another loan i have too pay...
Thinking about trading My Mercedes...or upgrade
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Joined: Aug 2005
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Thinking about trading My Mercedes...or upgrade
Sorry if this is already ask but how long do you need to keep the car until you can trade your car in without losing so much money on it. I was thinking about downing a good chunk of change...I was thinking about 8k but i dont want most of it to go straight to loan I have.
The next car I'm thinking is the newer ML...no its not for me its for wifey, she fell in love with it when she first saw it... Now I have no choice but to get the car for her and I'll drive her TL...man from a Mercedez to an Acura
!!!
Please help...
Merc240
The next car I'm thinking is the newer ML...no its not for me its for wifey, she fell in love with it when she first saw it... Now I have no choice but to get the car for her and I'll drive her TL...man from a Mercedez to an Acura
!!!Please help...
Merc240
Senior Member
Joined: Oct 2005
Posts: 297
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From: NorCal
2006 C230
Originally Posted by morph860
trade in the TL for the ML, and keep your benz
Well it's simple. Find out the trade in value of your car, compare that to how much on the loan you still have and then you can see if you're okay or if you're upside down.
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MBWorld Fanatic!
Joined: Mar 2006
Posts: 2,090
Likes: 11
From: SF Bay Area, CA
2006 E55 and 2002 E320
I can't understand a word you are saying.
But it seems like other people can. Obviously, follow the procedure that would enable you to lose the least amount of money.
It'd help if you told us the year and mileage and approximate trade in value of all your cars.
But it seems like other people can. Obviously, follow the procedure that would enable you to lose the least amount of money.
It'd help if you told us the year and mileage and approximate trade in value of all your cars.
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Pretty simple.
Out Of Control!!
Joined: Dec 2001
Posts: 12,161
Likes: 1
From: Obama Land
K Car
Originally Posted by MerC240
Sorry if this is already ask but how long do you need to keep the car until you can trade your car in without losing so much money on it. I was thinking about downing a good chunk of change...I was thinking about 8k but i dont want most of it to go straight to loan I have.
Now if you're talking about being upside down on your loan, then there is no way to really answer this question without knowing the details of your loan; loan amount, length, terms, etc... along with the rate at which the car will depreciate (there's no way to really know this). Of course, if you know all of this, then it's pretty easy to figure it all out.
Also, the longer the length of your car loan, the longer, you will be upside down on your car. Not just in time, but in percent of the loan. For instance, in a 4 year loan, you may be upside down for 24 months, or 50% of the loan length. On the same loan over 5 years, you might be upside down for 36 months or 60% of the loan length (these are just hypothetical examples).
You can always check the current balance on your loan, and check the current trade in and private sale value of your car (you can use kbb.com for this).
MBWorld Fanatic!
Joined: Mar 2006
Posts: 2,090
Likes: 11
From: SF Bay Area, CA
2006 E55 and 2002 E320
Originally Posted by revstriker
Not sure I understand this question. Surely you know that a car will depreciate the longer you own it. That's every day. So the longer you keep a car, the more money you will "lose" on it. A car is not an investment vehicle (no pun intended).
Now if you're talking about being upside down on your loan, then there is no way to really answer this question without knowing the details of your loan; loan amount, length, terms, etc... along with the rate at which the car will depreciate (there's no way to really know this). Of course, if you know all of this, then it's pretty easy to figure it all out.
Also, the longer the length of your car loan, the longer, you will be upside down on your car. Not just in time, but in percent of the loan. For instance, in a 4 year loan, you may be upside down for 24 months, or 50% of the loan length. On the same loan over 5 years, you might be upside down for 36 months or 60% of the loan length (these are just hypothetical examples).
You can always check the current balance on your loan, and check the current trade in and private sale value of your car (you can use kbb.com for this).
Now if you're talking about being upside down on your loan, then there is no way to really answer this question without knowing the details of your loan; loan amount, length, terms, etc... along with the rate at which the car will depreciate (there's no way to really know this). Of course, if you know all of this, then it's pretty easy to figure it all out.
Also, the longer the length of your car loan, the longer, you will be upside down on your car. Not just in time, but in percent of the loan. For instance, in a 4 year loan, you may be upside down for 24 months, or 50% of the loan length. On the same loan over 5 years, you might be upside down for 36 months or 60% of the loan length (these are just hypothetical examples).
You can always check the current balance on your loan, and check the current trade in and private sale value of your car (you can use kbb.com for this).
Personally, I am sorry to say, frankly, this thread wasn't exactly the best use of my time.
Get something that you like and that you can afford. Personally, i don't go switching around cars at my every whim because that gets expensive. I get something and I stick with it through thick and thin.
I don't believe in 1 year marraiges then divorce either.
MBWorld Fanatic!
Joined: Jan 2005
Posts: 2,848
Likes: 15
From: Orange County
2005 C Wagon (No snickering please!)
Originally Posted by morph860
When Fast & Furious 3 comes out...put a Type R sticker on the TL and bring it to the theater with a FOR SALE sign on it.
Great film, go see it. It's a man's film with plent of eye candy, and a very strange way to race....slinging yourself sideways. I guess Honda's are not that exciting in a straight line, so being nearly out of control is fun!
