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My financing situation.

albert096albert096 Posts: 8
edited April 2016 in Dodge
Hi guys, I don't know if this is the right place or not but I'm currently financing a 2013 dodge dart. I bought it for 14999 at carmax, then roll in taxes ect and warranty my total loan came out too 17200. It was a 2013 dodge dart rallye turbo with navigation and no sunroof. Had 26k miles on it. I got a 72 month loan at 11 percent interest. I only put 800$ down. 17200 72 months 11% interest 330$ a month. It was my first car decision and thinking ahead three years from now, Im not looking to keep it 6 years, will I be underwater majorly? I drive around 15k mIles a year. I was thinking about turning it in for a lease, will that work?

Answers

  • Edit-I will not be keeping it for 6 years.*
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 57,613
    Looks like you will be underwater even 36 months from now because of your low down payment--but it doesn't look too awful. I'd guess that you'd be down $2000--$3000. But it's hard to say because it depends on whether you sell the car privately or attempt to trade it in on something.

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