Okay so I know it sounds crazy but basically I’ve had six cars this year since May for a number of reasons and now have about 20-22k in negative equity.
I am now in a 2023 BMW X3 with a ridiculous car payment. My financial situation has since changed since buying this car as I am now the primary caregiver of a loved one.
I want to substantially lower my car monthly payments (like by $400) so I’m thinking about getting a $26k CPO Toyota Camry.
I have pre approval through Navy Fed who I hear is known to exceed the usual LTV rate of 125%. I’m think it would make sense to switch to a car that is more reliable, significantly less to maintain although I’ll be paying way more than it’s worth versus staying in this very expensive ($73k) car.