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Old 07-11-2012, 11:37 PM   #29
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Check your payment schedule and see what they would be two or three years down the road. You'll probably owe more than what the coach is worth.
Which means absolutely nothing if you're going to keep the coach. Same with a house, so what if you're upside down if you want to keep it?
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Old 07-11-2012, 11:44 PM   #30
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Look at a three or four year old unit. If your going to sell in two years you might recoup all your investment. If you buy a newer unit, you probable better off letting them repo it. Not saying that's the thing to do, just money wise, think about it.
You're actually advocating stiffing the loan company and skipping out on your promise to pay the loan off?

You do realize that if a company reposseses a vehicle or house or what ever and they sell it for less than you owe they can legally come after you for the difference and costs? That would put you even further in debt.
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Old 07-12-2012, 12:36 AM   #31
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I understand if you try to do a short sale you are required to pay taxes on the difference.
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Old 07-12-2012, 11:49 AM   #32
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Tom222.......If you can find a loan that you feel comfortable with, go for it. As I read your original post, it seemed to me that you were looking for a bank that would fit your needs, not a lot of internet financial advisers.
Amen.
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Old 07-12-2012, 12:27 PM   #33
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Check your payment schedule and see what they would be two or three years down the road. You'll probably owe more than what the coach is worth.
I'll bet the vast majority of vehicle loans are upside down. It's amusing when sales people for luxury vehicles talk about their products as investments. They're depreciating assets from Day One! And most people who can afford them understand that.
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