Quote:
Originally Posted by PPOOZ
Hey forum
i am am looking to ditch my 500 month finance terms on a 2010 volvo xc60 and trade it in for a current inexpensive honda accord lease to cut my monthly bills down on car payments, is this the right thing to do?
I still owe on the volvo obviously but the value seems to be dropping more than what I owe. I understand i will be under water on this loan but is it best to cut my losses on a high payment vehicle?
Can anyone with experience help with my decision?
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You already took one depreciation hit by buying new, why take another one?
You may lower your payments by a little, but at the end of the lease you will not own a car.