Very sad day!!!
that means you can tweak it for more power :P
Registered User
Joined: Jul 2011
Posts: 392
Likes: 2
sorry that you're thrown into that situation, but I do admire your responsibility and respect what you're doing! i too had my father pass away almost 2 years ago which prevented me from moving out, and i am currently still living home to help. nothing wrong with it! good luck with everything!
Registered User
Joined: Apr 2013
Posts: 72
Likes: 0
My hats off to you! Trading in your car to take care if your mother. I'm almost in the same boat as you. my payments is killing me, but barely managing to hang on. Keep up the great work!!!
Na Mehe Ekahi!! TOGETHER AS ONE!!!
Na Mehe Ekahi!! TOGETHER AS ONE!!!
I am sorry to hear what you and your family have been through. but you are taking responsible and mature steps to be there for your mom. I hope all the best for her. Respect!!!
Way to go. Earlier this year I took care of my late Mother. My health isn't good but I felt that she needed me. You have the same attitude and are doing the right thing. I just figured out it took me 40 years to get a nice ride again. Your time will come. You can be proud of yourself. Take care of your Mother and your time will come. My greatest respect to you
Registered User
Joined: Nov 2012
Posts: 185
Likes: 6
Thank you GT Law
However,
An upside down loan occurs when your interest rate is too high or you finanace more than the value of the vehicle (rolling negative equity into the new loan from your trade in). For example: you finance a G37 retails for 56,000 at 7% interest you will end up paying back approx $75,000 with interest. This is an upside down loan because you are now carrying that negative equity due to the interest. Every single dollar I pay goes straight to the principle so its impossible for it to become upside down.
I am also saving about $4800 in interest so if in 5 years I want to get rid of it, I will be in a position to take a loss and still be ahead.
LOL I am happy to hear someone thinks I am young but sadly I turned 39 this summer lol
However,
An upside down loan occurs when your interest rate is too high or you finanace more than the value of the vehicle (rolling negative equity into the new loan from your trade in). For example: you finance a G37 retails for 56,000 at 7% interest you will end up paying back approx $75,000 with interest. This is an upside down loan because you are now carrying that negative equity due to the interest. Every single dollar I pay goes straight to the principle so its impossible for it to become upside down.
I am also saving about $4800 in interest so if in 5 years I want to get rid of it, I will be in a position to take a loss and still be ahead.
LOL I am happy to hear someone thinks I am young but sadly I turned 39 this summer lol
You will end up financing more than the value of the vehicle as years pass. Depreciation will make it to where you are owing more on your car loan than the car is actually worth. With a shorter loan period, you will be less upside-down or not upside-down on the loan at all. With a 7-year loan, you are almost guaranteed to be upside-down at some point. However, this is all irrelevant if you keep the car until the wheels fall off, but that is apparently not what you are planning to do.
Registered User
Joined: Mar 2012
Posts: 72
Likes: 4
From: MD
Upmost respect to you man, and like many have said, cars literally come and go, family first. I pray your mom gets well soon. You'll be in an Infiniti again, and it will happen sooner than you know it. You should be very proud of yourself. Keep your head up! 
Premier Member
Joined: Jun 2013
Posts: 20
Likes: 3
From: Shrewsbury, MO
Congratulations on being a responsible adult. In echoing many other opinions in this thread, you chose the right path before you traveled further into the black abyss of being in over your head in debt, during a time you need to focus on your family. Sorry to hear you had to give up your beloved G, but I see one in your future. Stay strong and you shall be wrapped within the luxurious surroundings of the G. Good luck and take care!
Registered User
Joined: Jul 2013
Posts: 626
Likes: 25
From: L.A. (We love it!)
Thank you GT Law
However,
An upside down loan occurs when your interest rate is too high or you finanace more than the value of the vehicle (rolling negative equity into the new loan from your trade in). For example: you finance a G37 retails for 56,000 at 7% interest you will end up paying back approx $75,000 with interest. This is an upside down loan because you are now carrying that negative equity due to the interest. Every single dollar I pay goes straight to the principle so its impossible for it to become upside down.
However,
An upside down loan occurs when your interest rate is too high or you finanace more than the value of the vehicle (rolling negative equity into the new loan from your trade in). For example: you finance a G37 retails for 56,000 at 7% interest you will end up paying back approx $75,000 with interest. This is an upside down loan because you are now carrying that negative equity due to the interest. Every single dollar I pay goes straight to the principle so its impossible for it to become upside down.