BenzVince

a month ago, my car got repo, sadly, due to economic climate, so some part of me is a relief but same token I really wish it didn't happen. Only thing I was totally pissed off was the fact that when they auctioned off, they only got only half of what I owed and oddly, that my car is worth the wholesale value on what i am right where I owe, and I was pissed. Then I realized cuz of the economy that no one is going to pay what's the wholesale goes for since no one is buying cars. IT sucks doesn't it

starbrite

Yes it does, so next time don't bite off more than you can chew. Lesson learned ?

Ser05E500

Man just shared a story..I praise him for being honest. It can happen to anyone. Sorry to hear that your car got repo'd.

Vik888

Well, at least you enjoyed it while you could .. don't worry, if you've hit bottom, you can only go up from here. I've been there, it sucked, and I'm determined to never let it happen again.

gaazmon

+1. More people than many would think are going through tough times. We are all part of and affected by the economy whether we like it or not and will be even more as the world gets smaller and smaller. Hope things work out for you brother.

I was just talking to my father about this repo show they have on tv. I think it's wrong to have a show such as that were it shows people who can't make their payments and their cars are being repoed and being shown on national television all for ratings and entertainment.

erifly

I always buy cars with cash, so I won't find myself in this situation but that sucks man. You probably could have gotten an extra 1-2,000 if you sold it yourself. Well hopefully things turnaround for you..good luck

ZedStyle

me too.. granted i don't get to drive the flyest rides, but they're paid for!

sorry to hear about the repo, good luck going forward man

CharlyE500

+1

K-A

I decided to Finance my M-B just because I figured why the hell not. Just recently I decided to just pay it off as I don't see the point of paying interest when I have the cash to buy it in the Bank. Some people told me it's not a good idea as "cash is king in this Economy" and it's best to let the money sit in the Bank, and make the smaller payments. I figured, in this Economy we don't know what will happen, so while the goings good, lock in all your assets, to ensure that if it ever gets bad, you still have those to do what you want with them.

To O/P, that sucks though, I feel for ya.

gaazmon

It's always a numbers game depending on whether you lease or buy, finance or pay cash, etc. I think it always depends on the situation.