Selling a rig your upside down on
Like many people, we are over our heads. We have a really good 2012 Keystone Cougar Xlite 29RES, that we owe $30,000 on. However, it retails for closer to $25,000. Trade value is considerably less. S...
Forum Discussion
It's great that folks can pay cash for a new vehicle. :)
I don't put anything on my credit card that I can't pay off at the end of the month, so that's my way of staying "debt free"..
I had to take a loan for my house, but that was 17 years ago and I only pay $900 month for it and that includes taxes and insurance.
The new F150 I got 18 months ago, I'm only going to pay about $2000 interest over 6 years... In that 6 years, I'm gonna enjoy a newer vehicle than the 17 year old F150 I traded in for it and probably would not be able to save the cash payment for it in the 6 year loan I took out. (but, in that time, how much more expensive is a brand new 2019 F150 gonna cost??)
But, I put a good size down payment on both my house and the new F150, so I was not upside down the next day...
If you buy something with little down, and take a loan on it, you are upside down the moment you sign the papers..
All the OP can do is sell it privately, and hope to get his principle amount or sell/trade it for what he gets and move on.. We don't know why the OP wants to get rid of a new RV that they owe more on than it's worth, but that's the way it is...
Good luck!
Mitch
I don't put anything on my credit card that I can't pay off at the end of the month, so that's my way of staying "debt free"..
I had to take a loan for my house, but that was 17 years ago and I only pay $900 month for it and that includes taxes and insurance.
The new F150 I got 18 months ago, I'm only going to pay about $2000 interest over 6 years... In that 6 years, I'm gonna enjoy a newer vehicle than the 17 year old F150 I traded in for it and probably would not be able to save the cash payment for it in the 6 year loan I took out. (but, in that time, how much more expensive is a brand new 2019 F150 gonna cost??)
But, I put a good size down payment on both my house and the new F150, so I was not upside down the next day...
If you buy something with little down, and take a loan on it, you are upside down the moment you sign the papers..
All the OP can do is sell it privately, and hope to get his principle amount or sell/trade it for what he gets and move on.. We don't know why the OP wants to get rid of a new RV that they owe more on than it's worth, but that's the way it is...
Good luck!
Mitch
