Diamondbackjo's Tahoe.

[Goodinblack]

Thanks ^^^^

From my CB Radio.

 

[Modded]

Yeah, what Lee said

Buying a vehicle isn't an investment like buying a house. As soon as you roll off the lot, you owe more than what it's worth (unless you make a big down payment).

The points you made are valid!
I know that cars are depreciating assets, but it all comes down to how much he is upside down on the Tahoe.
For example, if he owes the creditor $27k, and the Tahoe is worth only $19k or so, he is better off getting rid of it unless he plans on keeping if for a real long time.
He could remove the custom parts, sell it, repay the creditor, then start again with a different Tahoe (maybe higher mileage and/or older model year) that will not have him so upside down.
Then he could also reinstall his parts and know he saved a couple of thousand.

 

[Goodinblack]

Again Neo..... excellent points good sir.

I agree with you too on the math.

However, all these cars are hemorrhaging assets. I say man up and pay what one signed for. Something to be said for personal responsibility.



From my CB Radio.

 

[mjenk430]

You said you took out a loan against the tahoe for remodeling? I didn't know you could do that? Was the truck paid for before the new loan?

Assuming the remodeling increased the value of your home, you could get a home equity loan and use that money to pay off the tahoe. Probably get a lower rate, and it's tax deductible? :shrugs: just an idea...

 

[Modded]

Again Neo..... excellent points good sir.

I agree with you too on the math.

However, all these cars are hemorrhaging assets. I say man up and pay what one signed for. Something to be said for personal responsibility.



From my CB Radio.

 

[diamondbackjo]

all good points and thanks for the advice... i'm just trying to get all my ducks in a row.

and no, i'm not that far upside down in it. i'm just afraid that as more miles go on it the less it's gonna be worth. then i'm really screwed. and i highly doubt i will own this vehicle in a few years when it's completely paid off. i'll figure something out...but until then..i keep being irresponsible and keep ordering parts!!

 

[Goodinblack]

Uhhh.....yeah.

That's the spirit.


From my CB Radio.

 

[diamondbackjo]

well, after doing a lot of trading stuff.... I ended up with a set of 24" chrome Boss 330's with almost brand new tires. I know it would be hard to look at my truck going from 26" slides to 24" 330's.... still don't know what I'm going to do.... this was a pointless post but the only update on parts.

 

[YuCanada]

well, after doing a lot of trading stuff.... I ended up with a set of 24" chrome Boss 330's with almost brand new tires. I know it would be hard to look at my truck going from 26" slides to 24" 330's.... still don't know what I'm going to do.... this was a pointless post but the only update on parts.

I loved your slides

 

[diamondbackjo]

I loved your slides

they're still on it. I'm very indecisive. the 24's are just sitting in my shed.