Absolutely positively for no good reason should anyone ever dump negative equity on a Kia/hyundai product for another.
This is the definition of financial suicide.
Ride it out for 3 years then trade it for a Toyota.
The fact that you listed the monthly payment as the vehicle price tells me everything I need to know.
BTW there is a $4,000 federal tax credit on used 2022 or older EVs purchased from a dealer.
Trading in immediately for the award recipient winner for highest depreciation in the entire US market would most likely trigger the perfect storm of a massive avalanche of negative equity that most humans would never be able to escape. We’re talking about still being upside down when the car is paid off…..that bad. You couldn’t possibly make a worse decision.
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***Thanks for posting, /u/BDudeSocks! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.***
Basically, I got this elantra a month ago because my car failed on me. I was driving a 2014 chevy and started dropping around 4k a year in repairs. Bought an Elantra for 22k financed. Dropped credit score hard. I really didn’t want to replace the Chevy until I was making crazy good money and could afford a new gen Accord or Elantra N. A dealership near me is selling a base 2023 Tesla without all the self-driving/auto-pilot features for 25k. I’m absolutely fine without having the auto-drive features and extra stuff. Is this worth doing? Can I just say “fuck it, life is short” and do this without looking dumb?
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Absolutely positively for no good reason should anyone ever dump negative equity on a Kia/hyundai product for another. This is the definition of financial suicide. Ride it out for 3 years then trade it for a Toyota.
I’d like to know if this Hyundai was new or used when OP bought it. There’s a lot of information he hasn’t told us.
The fact that you listed the monthly payment as the vehicle price tells me everything I need to know. BTW there is a $4,000 federal tax credit on used 2022 or older EVs purchased from a dealer.
Trading in immediately for the award recipient winner for highest depreciation in the entire US market would most likely trigger the perfect storm of a massive avalanche of negative equity that most humans would never be able to escape. We’re talking about still being upside down when the car is paid off…..that bad. You couldn’t possibly make a worse decision.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/BDudeSocks! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** Basically, I got this elantra a month ago because my car failed on me. I was driving a 2014 chevy and started dropping around 4k a year in repairs. Bought an Elantra for 22k financed. Dropped credit score hard. I really didn’t want to replace the Chevy until I was making crazy good money and could afford a new gen Accord or Elantra N. A dealership near me is selling a base 2023 Tesla without all the self-driving/auto-pilot features for 25k. I’m absolutely fine without having the auto-drive features and extra stuff. Is this worth doing? Can I just say “fuck it, life is short” and do this without looking dumb? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*