So how bad is surrendering a car with a loan? *UPDATE*

[IceBergSLiM]

The attitude that fuelled this thread is a prime example of the trend towards Americans refusing to accept personal responsibility for their decisions. This has resulted ultimately in your ridiculous government enforced lending policies where people are entitled to walk away from home loans when they get underwater, which creates a vicious cycle, further forcing prices down, and is what will lead to an extended period of very poor performance in the housing market.

Not to mention the cause of the housing slump in the first place, which again is government policies forcing banks to lend to people who weren't credit-worthy in the first place.

Once again, LOLAmerica.

everyone is ripping off everyone. The government included. Its only a matter of time before the little guy jumps in the mix. Its all a ponzi scheme.

 

[Sho'Nuff]

I just threw up a little in my mouth. Tell me that was a typo and your math was based on a typo. $17K for a Versa?!?! If that really is true...paying MSRP for that vehicle should be a crime.

http://autos.msn.com/research/vip/default.aspx?make=Nissan&model=Versa

MSRP ranges from 9,900-16,900. I took the high number.

 

[geno]

I haven't read any of the thread, but I'm dropping in to say this :

$380/mo on a god damn Versa!? You said it's not a BMW, but it might as well be a gently used one with a payment like that - holy shit.

 

[slackerinabox]

UPDATE
Figured that I got some great (yet obvious to everyone but myself) advice and you guys were owed an update.

We're keeping the car. I was a bit past due but I made a mother of a payment after I got my first commission check and everything's completely kosher. My wife and I figured that we'll eventually need a car when we get a kid so this will be that car. Figure I spend about $10 a day on smoking (NYC and her cig taxes!) so I agreed to quit to help make the car payments. I also plan on using the car for work over the weekends, driving in will actually be fun and free parking on Sunday - woot!

Thanks for helping me think clearly, it was easier to throw in the towel but ultimately a dumb decision.

 

[skyking]

If that is what it takes to quit smoking you are getting off cheap. Your health >*