@mross1080 wrote:
I have a rolling neg equity situation that worked out. My DW bought a used car before I met her and really got taken for a ride. she ended up paying to much for the car with higher milage for the year and getting told 16% interest was good. Well 3 years into the loan and a 650 dollar payment. The car had 145k on it and was worth around 7k for a trade in and she still owed around 15k. The car started having issues and I really worried about dependability. In april after a lot of looking we ended up trading it in for a new corolla and rolling in a difference. I was amazed they actually let us roll in that much neg. We put down a couple grand and the loan ended up bein around 24k at 0%. We now pay 402 a month for 60 months. Not only do I not have to worry about a car with no warranty breaking down on us. But the payment was much lower. We do have to pay it for 2 more years than we would have had to with the other but it works out to about the same amount of money. Otherwise I dont agree with rolling in neg. But it worked in my case.
Had you taken your loan to only 36 months you would have been about $20.00 a month more expensive then the loan she was paying for on the POS, but would have had the new car and the rolled negative paid off in 1 year more then what her high loan schedule was like.
Granted at 0.0% being free money it is kinda pointless to pay it off quicker.
