Upside-down SUV

Upside-down SUV

Dear Mary: After a long period of investing our automobiles in and updating each time, we’ve got a huge 2019 Chevy gas guzzler. We owe $33,335 on a zero-percent loan.

The top value, in line with the Kelley Blue Book web site, is $22,930 whenever we offer to a personal party and $19,510 as a trade-in.

My partner does think we can n’t get free from this. We actually regret most of the choices that are bad made and will be prepared to drive something less costly. We have only $3,400 in our crisis investment. What exactly are our alternatives? — Greg

Dear Greg: You are “upside-down” in your loan into the tune with a minimum of $11,000, meaning you borrowed from that even more about this vehicle than it really is well worth in the market that is secondary. Continue reading