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Smartest way to trade in a car with Negative Equity

RussFlipsWhips 51 views

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That’s the worst advise If you’re leasing, it’s because you like to drive new cars every two to 3 years If you end up liking the car, you can opt to buy it Also, if you’re not the type of person to take trips, than leasing is great Remember, you’re limited on the miles you use per your leasing contract Financing is better if you prefer to have no limitations on what you can do with you’re vehicle
Comment from : @JR-ts6co

It's only negative equity to a dealer I have a car that sells regularly in my area (private and dealers) for $20k-22k BUT dealers want to pay $13k-15k I get it they want to turn around and sell it for the higher amount and pocket a nice beefy profit BUT it's only negative equity if you sell it to a dealer ;)brbrAlso, a lease is fine if you drive very little If you drive a lot a lease will bury you
Comment from : @GeoTactics

Better to find a car that hold its value well but the manufacturer is offering 0 or very low manufacturers subsidized financing As of Feb 2025 Subaru would fit that description Roll as much of the negative equity into the new car deal and finance the entire balance at the very low rate Since there’s no or very little interest expense each payment takes big chunks out of the payoff balance but because the car holds it’s value reasonably well if you’re upside down in the deal it’s usually only the first 12-24 months of the loan
Comment from : @wjtinatl

How do I get in touch with you if I want to lease a car with my negative equity?
Comment from : @Al-un2un

Anyone want to buy a 2018 Chevy Bolt only 19k
Comment from : @drdon2950

Beware A lot of advice this guy gives is really bad
Comment from : @mulletsince9212

Can’t lease if you’re doing high mileage I do 90 miles a day
Comment from : @reverseflash6248

Negative equity means you got greedy Fix that
Comment from : @jbraunger

Wow, sorry horrible financial advice for the customer, great financial advice to for salesman's wallets
Comment from : @Reptitude

How abou this Drive the stinking car until you have equity Even better, drive it well past the time it's paid off If you follow his advice you will be MORE BROKE There are no do overs in this life Set yourself up financially while you are YOUNG or you will regret it!
Comment from : @ProCoach2373

I was thinking about leasing because of this issue My car had an issue and because it cost a lot to fix my car is now in negative which it had a recall on it which I’m not sure is it because of the recall I’m thinking of leasing a car
Comment from : @George-Cancel

If you have a car with negative equityit's time for you to take the bus
Comment from : @mikenimmick3920

what a joke, so if you made an irresponsible car purchase the best thing to do is make another one?
Comment from : @miggetymike1

I have 9K in negative equity I will lease your 2023 model I live in columbus
Comment from : @ps93747

a lease is a horrible idea
Comment from : @jasonroberts2668

smart way is to pay it off
Comment from : @jasonroberts2668

This guy giving some of the worst financial advice
Comment from : @jleonas

This guy is embarrassing, FIRST cars CAN get approved with no money down with negative SECOND buying new is one of the worst ideas you can do with how fast they depreciate ask Dave Ramsey If you are NEGATIVE sell your car outright and pay the difference in cash, or bite the bullet and roll it into a good valued under priced used car Look up LTV and use that as a rule to get out of negative, banks will loan up to 140 at the high end of the LTV The closer and closer to 100 LTV or UNDER you are the better spot you are in Regardless of cash down or new vs used Find the book value of the car you are looking at and make sure the negative fits the parameters you set up Make extra payments, and try to find a bank to do a shorter loan term and don't bury your self in a 100k mile car for 84 months The financially smart option is to keep the car you have and pay it off and don't buy something you cant afford But at the end of the day, if you NEED out of a car loan that is negative, you can do what he said, but you don't need cash down other than to improve the LTV The banks don't care about cash down they care about cost to loaning IE- If a car is $20k and you loan $20k its 100 LTV even if you put 10 grand down to get to twenty thousand financed the bank still sees it as a 100 loan But lets say you roll negative into a car with zero down but the book says its still 3k under value, well the bank sees it as 3 thousand dollars down or 17k financed on something worth 20k
Comment from : @soydavis9609

Renting a car is biblically stupid Lets say you have a $500 per month rental payment on that new car, and it's a 24 month rental agreementbrAt the end of the two years, you just spent $24,000, and what do you have to show for it? An empty drivewaybrbrAnd yes, "leasing" is just a fancy way to say "renting" It's the exact same thing
Comment from : @michaelbloom5342

by american go trump
Comment from : @StacyAlder-y4y

God give ro him maybe things can help you in the king run dishonest scales
Comment from : @StacyAlder-y4y

he hears you
Comment from : @StacyAlder-y4y

ainty up
Comment from : @StacyAlder-y4y

yoy alk are in ki he hoots
Comment from : @StacyAlder-y4y

i heard ir from thw grape vine no there not raisions i know what they asjed you to do
Comment from : @StacyAlder-y4y

uk lady alex and sandra
Comment from : @StacyAlder-y4y

sharks in the water
Comment from : @StacyAlder-y4y

not predigidse
Comment from : @StacyAlder-y4y

what up people
Comment from : @StacyAlder-y4y

homeless
Comment from : @StacyAlder-y4y

by stan
Comment from : @StacyAlder-y4y

I got a personal loan to pay off negative equity Rather pay the 17000 negative equity than roll it over to another vehicle just to create a bigger negative equity
Comment from : @andrewgarcia605

Save up and pay in cash
Comment from : @JAT922

You’re a bottom, I can tell
Comment from : @Aaron1911-e2b

Can you lease a previous year model car??
Comment from : @ashBhagg

You will own nothing and be happy, is basically what he's saying
Comment from : @kidsmooth6549

This guy's content is for fools that want to waste their money Stupid advise
Comment from : @ml989

I have a nissan and i owe about $3,000 I spent most of my car payments on repairs I need a newer car, i may not have a choice but to roll it over
Comment from : @beautiful-Lioness818

What’s about if you go over 5k miles in 5 years 😒
Comment from : @LetsTalkkAboutttIt

Stick to a car you can pay off in three years If it takes you longer to pay it off than that, you can’t afford it ☮️🇺🇸
Comment from : @daveporter9222

Pay off the negative equity with your ten grand and buy a $4500 Corolla
Comment from : @eprofessio

Love your videos, Russ
Comment from : @jeffreyalbaugh2285

Smart thing is to not have negative equity in the first place
Comment from : @pyromcr

move to India and ride a bike
Comment from : @coachv4712

Honestly got myself into a bad car loan deal also a bad refinance deal but im just gonna pay it off take the loss and pass this car down to my kid so he wont deal with this bullshit
Comment from : @jdmorge

Define a little bit of money down
Comment from : @JusSanford

Bro that’s some next level shit 😂
Comment from : @JstKrvz

I’m in that same boat with my Tesla - over saturation of the market killed me and now my car is worth half of what I bought it for 😑
Comment from : @joshchristensen3333

Spoken like a true dirtbag dealerbrHow about keeping what you have , paying down the loan, and stop making stupid money mistakes
Comment from : @sshady7272

if you lease it, you will be leasing forever, no thx
Comment from : @newkirk7591

2023 new car with 10k off?! Do you sell to Los Angeles customers?
Comment from : @michaeldeluna7484

what if the car needs repairs costing half of what ur remaining balance is
Comment from : @FlyyHigh834

how much is a little bit of money ? lol
Comment from : @thejasscarter

Spoken like a true car salesman
Comment from : @ToddRogers00

A car salesman giving financial advice on buying cars when you are upside down in a car all ready…… Lmao
Comment from : @ernesthill2568

Ok I wish that would work but sadly if you don’t have an AWESOME credit that formula doesn’t work I tried
Comment from : @czaz00

Giving people the worst advice Buy a used car for cash
Comment from : @MrMountain707

This guy is no financial advisor Leasing the most expensive way to get into a vehicle Rolling negative equity is a myth It simply means you owe even more The best way out is to drive it until the wheels fall off
Comment from : @larryjeffries8136

ive said this for years!
Comment from : @PremiumGCCo

Terrible advice By doing this, you end up with higher payments to make up for the negative equity anyways Your best option is to keep the car till its paid off, or make a major downgrade
Comment from : @blaze376192

Leasing is the car salesman’s dream because it keeps the customer continuously be paying It is actually the most expensive way to have a vehicle Buying a good used vehicle is a much smarter decision because it has already gone through the greatest depression By putting yourself in a position of not being totally dependent on a vehicle you can have greater flexibility in getting a lower cost vehicle
Comment from : @charlesphilhower1452

Don’t do it! Drive it until the wheels fall off!
Comment from : @jgboys1

Most people trade their car in every 3-4 years probably, so leasing is a great option for the majority of people
Comment from : @zachtaylor2467

It doesn’t work With lease deals being so expensive now it doesn’t make sense to roll over negative You’re better off just keeping your car and fixing what is wrong You’re gonna have a massive lease payment and you build zero equity I looked into it myself and it just didn’t make sense to do
Comment from : @chrisrstt

Russ looks so handsome
Comment from : @minipandora22

Sold cars for 2-3years I'm a service advisor now But have been in dealers for about 10 years This is the best way to go
Comment from : @CaptnMikesAlot

I don't plan on buying anything over like 2005
Comment from : @Thewall6110

That's good advice, especially if you are the type of person that wants a new car every three years or so brbrI would say that if you plan on keeping the car for at least eight years, buy it
Comment from : @jdenney79

Why not just keep the car you got?
Comment from : @miltonmcdonald2919

A 48 inch iPad dash has to be the worst feature in the history of cars Why? Just fuckin why?
Comment from : @Sub-Zero-C6Z06

Justkeep your car until it is paid off Duh
Comment from : @Srode1999

Lease is a fleece
Comment from : @Mistersportsplex

I keep telling people this To get a new car with lots of discounts and rebates But they all ignore me cause they want a cheaper payment
Comment from : @ForensicKILL

This is the most honest salesman/ friend to the public out there No going wrong buying here ever!!!
Comment from : @Figuereditout

What's negative equity
Comment from : @diplomatofthesosbrigade931

Don’t let Dave Ramsey hear this one
Comment from : @kylelaw7210

What if you don’t want to lease it but still have negative equity?
Comment from : @markoberdorf1624

Have GAP insurance and wrap it around a tree
Comment from : @stephentaylor792

You also have no car so you have to start over again
Comment from : @maxxedout2020

Just buy a used car
Comment from : @bngr_bngr

Lease the vehicle…get out of negative equityand at the end of the lease…you have nothing to show for it…lmao
Comment from : @tedkite4684

Also what you could do is buy a Honda used for 10k and drive it for 10 years like I have lol Also do next to none maintenance because it’s a honda
Comment from : @ryguy9353