LVelitelegacy Posted December 15, 2004 Share Posted December 15, 2004 Anybody know if subaru allows you to roll over negative equity into their lease program? I really like the 36 month lease they have, but my trade in would be around $5000 in the negative, so I didnt know if they can roll that into the lease. I'm thinking if I get the 05 LGT limited for ~$27500, and i have ~$5000 I need to roll into it... that will be ~$32500, has anybody done something like this when they got their sube? Link to comment Share on other sites More sharing options...
bbbradley Posted December 15, 2004 Share Posted December 15, 2004 Possibly the stupidest thing you can do! Don't do it!!!!!!!!!!! If you have to roll debt into your new car, you [b]can't afford a new car.[/b] /bill Link to comment Share on other sites More sharing options...
LVelitelegacy Posted December 15, 2004 Author Share Posted December 15, 2004 As wierd as it sounds, I would rather have debt in a legacy rather than my mazda... I know i'll have to pay if off eventually, but I'm not ready to do it now and i'm bored with my car. Link to comment Share on other sites More sharing options...
D-2.5-GT Posted December 15, 2004 Share Posted December 15, 2004 yes, very bad idea.... clearly you cannot afford a new car. It IS possible to roll that negative equity into the new vehicle, but not smart at all. I was almost in a similar situation, but ended up finding a dealer who would settle exactly what i owed on my other car...although my difference for negative equity was under a grand. This is not a smart idea, 5 k is a LOT to roll over, thats almost 1 /5 of the cost of the car, not smart at all. Your best bet would be to try and pay more off of that other car before trying to trade it up, or sell it yourself. You are only succeeding to over-inflate the cost of the car and trust me you will be the one paying for it. Not a smart idea, i know it sucks, but your best bet is to keep what you have untill the difference is much smaller. Link to comment Share on other sites More sharing options...
Viperenvy Posted December 16, 2004 Share Posted December 16, 2004 As a salesman myself I would even tell you it's not a smart idea unless its absolutely necessary, and being bored isn't. You'll be real bored when you have no freaking money saved up to go anywhere or do anything. Plus you won't get the true lease special cause any bank that sees you rolling 5k into a LEASE will raise up rates on you period for sure. If anything I do a purchase if you could afford it as it won't effect as badly when a bank looks at it. 2017 F150 Platinum EB 2009 SWP Spec B Link to comment Share on other sites More sharing options...
plunk10 Posted December 17, 2004 Share Posted December 17, 2004 If you actually despise your Mazda, I'd recommend buying something cheap if you absolutely must get rid of it. agreed, $5000 is a lot of negative equity. If I were forced in a situation with that much negative equity, I'd buy a used car, preferably under $10,000, and pay as much principle as possible, each payment. Link to comment Share on other sites More sharing options...
wunderkind Posted December 17, 2004 Share Posted December 17, 2004 And the numbers of North Americans who are in debt continues to balloon.... ;) Link to comment Share on other sites More sharing options...
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