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Discussion Starter · #1 ·
Well just a little while ago, I get a call from the dealer basically offering me a speed3 for around the same monthly payments that I pay for my speed6. The bad thing is the speed6 has so many rebates and such out right now they are basically offering me like 7,000.00 less than what I owe. So that 7,000.00 will be all negative equity, the speed3 is a Sport model. So question is for same monthly payment would you make the switch? Is there that much of a difference? Or is it all hype?
 

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Sounds to me like the dealer wants some more $ from you. $7k in negative equity is horrendous.
 

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you'd be crazy to take that deal. That's a lot of negative equity. I'm sure the payment to get you the same is also a 7 year note..

stick with the speed6!
 

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Discussion Starter · #4 ·
Sounds to me like the dealer wants some more $ from you. $7k in negative equity is horrendous.
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Actually they just want to sell the car, I guess someone had a deposit on it and backed out for some strange reason. It's actually a different Speed dealer btw..
 

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Actually they just want to sell the car, I guess someone had a deposit on it and backed out for some strange reason. It's actually a different Speed dealer btw..
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Dude, they are trying to make a buck! We all you know what they want: sell the MS3 for as much as they can and take away your MS6 for as little as they can. As been already said: stay home with your MS6! There is a pretty good chance that MS3s will also sell below invoice with the next 12 months...
 

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Discussion Starter · #6 ·
I have thought about it and that is way too much negative equity. The only thing that got me was riding in my friends speed3 last week, at stock he was like a car length behind our srt-4 friends with stage 2 kits.. But I like my speed6, at times I think I should have waited but WHATEVER. Speed6 will do me just fine.
 

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A negative downpayment is only advisable if you are already considering bankruptcy and able to discharge the debt (although in some cases this is fraud).
 

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That does not work as he would either have to surrender the collateral or affirm the debt obligation.
 

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I have thought about it and that is way too much negative equity. The only thing that got me was riding in my friends speed3 last week, at stock he was like a car length behind our srt-4 friends with stage 2 kits.. But I like my speed6, at times I think I should have waited but WHATEVER. Speed6 will do me just fine.
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Just a little heads up on the stage 2 kits the SRT guys are running, they are overrated, my stage 1 with wastegate and 3'' downpipe was faster than any stage 2 I ever encountered.And keep your 6 that kind of negative equity is crazy.
 

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If he has that kind of money to throw around. Go for it. lol But to be honest stick with the car you have for now. I did the negative equity before and it still hurts my pockets.
 

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One thing no one mentioned is that even comparing a Sport 6 to a GT 3, the 6 will feel better on the inside and come across better appointed (minus the leather bolsters and seat heaters). I went from a 3S to a speed6 sport and the difference in interior refinement is quite noticeable. I loved my 3, but the 6, even without leather/nav, is just such a treat to be in. Add into that the fact that you're looking at a sport model 3... not for me.
 

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That does not work as he would either have to surrender the collateral or affirm the debt obligation.
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Depends. In some states you're only obligated to pay for the full value of the car - negative equity rolled in is discharged. More than half the people I know that financed a significant amount of negative equity ended up declaring bankrupcy at some point - so it's worth looking into if that's how you roll. Likewise, you can pay off the car with an unsecured loan - just don't do this a month before you go tits up.
 

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More than half the people I know that financed a significant amount of negative equity ended up declaring bankrupcy at some point - so it's worth looking into if that's how you roll. Likewise, you can pay off the car with an unsecured loan - just don't do this a month before you go tits up.
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not to be an ass - but nothing is free - this gets passed back to the consumer so it's like we're paying them for their negative equity and bankruptcy.

Negative equity should be avoided at all times unless you're in a serious bind.

repo
 

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not to be an ass - but nothing is free - this gets passed back to the consumer so it's like we're paying them for their negative equity and bankruptcy.

Negative equity should be avoided at all times unless you're in a serious bind.

repo
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A guy I know had negative equity on one car and traded that in for a Lincoln LS... Then he was upside down on the LS and traded that in for a Mazda 6 (not speed6)... His monthly payments are now $900. Ouch.
 

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yikes. do you know what kind of car you ~could have for 900 a month? jeez!!!
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Oh yeah, I know... I almost cried for him when I heard that. =D
 

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I don't see any mark up close to my dealer.
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There has got to be a law against that kind of crap! :swearin:

In fact, the rebates/incentives that many of the vehicles are carrying is what allows folks to borrow upto full MSRP cost for a vehicle that retails for thousands less. Another reason the rebates are here to stay...
 
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