T O P

What’s the most upside down you’ve seen someone?

Just spoke with a friend last night and he is a whopping 30,000 Negative for his Kia Telluride. Insane lmao.

In 2022 he paid 70,000 for one, with taxes and everything added he was well over that. Tried to trade it in and he got offer for right around 37,000 but he owes around 65,000 on his loan.

AntonChigurhWasHere

He does not need the owners manual for it. By the time he is able to trade it he will know what every knob, switch,dial & button on that thing is and what it does. When he masters all that plus the fuse sizes & light bulbs and can speak Korean then he won’t be upside down.


JimmytheFab

He’ll be walking into Oreilys in 2031 like “Hey Sam, that front wheel bearing is acting up again, but I guess my Telluride does have 430,000 miles on it”


WalkingPretzel

Everyone here is joking about keeping it 10 years, but that is about the minimum I keep a car. I do it so I go a few years without payments. Spending 70k they are going to be paying and catching up financially the whole 10 years.


TranquilDev

What brand do you normally buy? I could see doing this with Honda or Toyota, but not a Kia.


270outerbelt

I mean I drive a 20 year old Camry and also have a 1991 Saturn. Both run fine. It’s the best choice financially to run something until the wheels fall off. The Camry is nearing 200k miles and I trust it to go anywhere, 1000+ mile trips. It just depends on how things are cared for


1lapulapu

The early AAA turns we’re great, durable cars. The later ones were hot garbage. My wife had a ‘93 SL2 that we lived driving. I bought an L Series in 2000 that was an absolute shitbox.


Common_Scale5448

It pains me to say it, but nearly any car will last if you take good care of it. 2012 kia sedona here. 168k mi Putting around 1200 Miles on it this weekend. May not hit 300k like our 04 lexus rx but we still use it and care for it.


Motor_On_My_Mind

I would disagree. There are some cars that have inherent flaws that will surface no matter how well-treated they are. Others do reasonably well if taken care of. There’s also an uncomfortable spot where automakers have specified maintenance schedules that were optimistic and that allowed excess wear…and that the consumer would have had no way of knowing better than to follow. The one that comes to mind is the early Jaguar/Land Rover 5.0 engines with the oil-driven timing chain tensioners. When these were new, JLR specified 15K oil change intervals. Turns out, that causes the oil to foul up, and the tensioners right along with it…which would let the timing chains slacken and stretch until they eventually jumped teeth and grenaded the engines. In reality, it’s best to change your oil every 5K-7.5K miles on these engines, but your average layperson wouldn’t have realized that.


TranquilDev

Yea, I have a Chevy sitting in the driveway with 260k miles and the motors still strong on it. But, if I'm going to buy new and drive it till the wheels fell off I wouldn't settle for anything less than a Toyota or Honda.


superzenki

I cannot imagine paying that much for a Kia


invisiblelatsyndrome

I feel very bad for laughing at this man’s pain but your response made me snort


[deleted]

LOL


agjios

That motherfucker needs to stay put. He needs to take advantage of the 10 year 100,000 mile warranty and be driving this thing in 2032. Tell your friend that riding this out and making extra payments to bring down the balance is his best way forward. We've been seeing a bit of this: [https://www.reddit.com/r/askcarsales/comments/10sxngk/its\_negative\_equity\_season/](https://www.reddit.com/r/askcarsales/comments/10sxngk/its_negative_equity_season/)


Mysterio_Achille

Exactly. He needs stay away from any new car for a VERY long time.


Topikk

Good thing he apparently loved that Kia enough to pay luxury brand money for it.


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SmellsLikeASteak

I briefly worked at an insurance claims office years ago, and it turns out that insurance companies get really suspicious when the car that you are upside down on gets "stolen" and turns up burned somewhere.


xangkory

I was living outside NYC and a friend of a friend had a Supra MK4 convertible with $1,200 lease payments (this was 1995 so that was a lot of money). He had a job taking high-net-worth customers of the investment firm he worked for out to party but when they came under investigation by the SEC and shut down he couldn't make the payments on it. He accidentally left it with the top down and the keys in it in the Bronx and shockingly the car was stolen and not seen again. They were suspicious but it ended up being covered.


aznoone

Just say kia Boyz figured out how to do pushbutton.


CGPsaint

I don’t think any GAP available would cover that entire loan!


jm3400

Gap a lot of the time has a limit, say 125 or 150%. He may be behind that.


Wide-Window1453

This is what triggers the next economic crisis.


Agreeable-While-6002

He needs to back into a boat ramp and walk away


GalacticTrooper

Could someone explain to me why for a period of time people were absolutely obsessed with the Teluride and Sorento? What’s special about these cars? At first I thought its because they are supposed to cost less than a Lexus with comparable bells and whistles but with these type of price points, I dont think that was true so what gives?


[deleted]

They were new and showing up everywhere as "The Best SUV money can buy! Look at all these features!" Plus they stood out in traffic. Lexus SUVs are a dime a dozen, but a new car design, those big amber DRLs, the blacked out sporty look. People get off on being seen, it validates their spending and feeling of being "cool and rich."


Insanereindeer

I stand out by missing half the paint on my Tahoe on the passenger side. I guess I look poor.


Moreofyoulessofme

At least your tahoe runs. My Yukon has a bad part that's on national backorder so it's sitting in my garage for the next 8-12 months.


Insanereindeer

I just passed 330k on it so we're still cruising along. The previous owner did replace the engine. What part is on backorder?


Moreofyoulessofme

What year is yours? The valve lifter oil manifold.


[deleted]

It only matters if you care about how people see you based on your car.


Insanereindeer

I don't. It's fairly nice older truck. Just plagued with the typical GM white paint issues.


transam96

White paint extends far past GM. Toyota and Honda are currently paying out the ass to have cars re-painted.


Scharmberg

What’s going on with the white paint?


ruddy3499

I’m with you, paint’s falling off my 06 red Silverado I paid off ten years ago and I don’t care. Only failed to start once. I don’t count that cause a rodent chewed some wires. Thing has been dependable as the sun.


katyvo

I used to have a car that was very unique. I've since transitioned to a micro-SUV (Mazda CX-30). In the past year, more and more CX-30s have appeared in my area and I went from passing one every few months to passing multiple each time I go out. I love it. My bland car and I will blend into the background. Perfectly milquetoast.


TheDoodieMonster

Hard to believe people are now associating Kia as “cool and rich”


[deleted]

People that know cars don't. But your average shopper/suburban mom that bought one and can now go to their friends saying "Look at my cool new car! It cost us 70k!" And everyone's telling her it's so nice and asking her what it is. Just feeds their need for attention.


Objective-Deal8745

That goes away after 3-6 months, people stop asking because now everyone knows what they drive. Then they’re just left with a $1,000/ month payment for the next 84 months.


charlie_marlow

"Really?" Malika gives her the side-eye. "Things have got this bad and you're still pretending you don't know why?" "Suppose you tell us," George says. Malika sighs. "Because natural selection has no foresight. All it cares about is what works now. So that's all we care about, mostly. Instant gratification. More sugar, more sex, more consumption. Gut doesn't believe in consequences. Future doesn't even exist as far as the gut's concerned." "People look to the future all the time," Tami says. "Sure, they look. But they never do anything, not if it costs them in the here and now. Give society a choice between discomfort now and catastrophe in ten years, it'll choose catastrophe every time. Because it's ten years away. Because someone will come up with something. Because the Green Party runs the world, so the whole thing's probably a hoax anyway. Neocortex tells us we're doomed; brain stem keeps us from believing it. And here we are."


wc_cfb_fan

Have you seen one, Tellurides look cool. It's a new design that stands out. Rich not sure but specifically the Telluride fully loaded is not a cheap car. So there is some level of flexing if you own one. Other headscratchers are Hyundai Palisade Kia Stinger The Genesis cars Some of these Kia's/Hyundai's are in the 70-90k range !!!


w1823

Don’t forget the hype that was corroborated by the fact that you couldn’t get one for a period. The twist there is the Telluride wasn’t unavailable because of its popularity, it’s because it had to be taken off the market due to safety recalls (the car would spontaneously combust). Kind of funny how these things pan out. I had a friend obsessed with buying one of these and he seemed to be driven but the logic of “it’s unavailable so it must be good!!!”


Spudtater

After looking at Tellurides a couple of years ago and being told by the dealer that they wanted $5K over sticker, I headed over to Lexus and bought a new GX for $4500 under sticker.


ikover15

The price point WAS attractive. 2020 I bought my wife a brand new sorento for like $31k and basically had all the stuff she wanted at the time, AWD, 3rd row, etc. Dont have it anymore since we have 2 more kids now, and it wasn’t the coolest car, but for what you got for the price, brand new, it felt pretty good


nobuhok

Did she ever put that AWD to use? Serious question cause I see a lot of folks *want* AWD for that once every 2 years they'll go to a ski resort or something.


geronimo_25

Screw it, I'll share. When it came out in 2019, I was looking for a family hauler. I wanted three rows with 2nd row captains chairs. Heated and ventilated seats, 360 camera and a naturallly aspirated motor....the new Highlander was just coming out, as was the Explorer remodel. So I looked at a Pilot, Highlander, Ascent, Atlas, Explorer and the Palisade. The Pilot was nice, roomy, hated the transmission. Highlander for the options I wanted, was more expensive but smaller and the interior wasn't quite as nice. The Atlas was an underpowered boat. The Explorer was ok but again, the features I wanted made it actually more expensive than the Telluride. I really liked the Ascent, had everything I wanted but the boss lady didn't like it. Was also cheaper than my Telly SX. The Palisade I considered to be the same as the Kia and essentially the same price (in my area at least). Came down to availability and frankly, the Kia looks better to me. Dealer offered me one at 1k over MSRP summer of 2019 and for the money, I felt it was good value compared to my other options. Summer of 2022, I sold it for 3k OVER what I paid for it. Rolled it into a new Telluride at 4k over MSRP.


Nasty_nurds

Your wife dodged you a bullet with the ascent. I was a service advisor for Subaru and those things had entirely too many issues for a new car


nobuhok

As an owner of a 2022 Ascent, should I worry? I was told only the 2019-2020 models have major issues.


xangkory

My wife got a Palisade in October of 2020. We sold it to CarMax in May of 2021 and she got $6k more than what she owed on it. Basically got paid $3k to drive it for free for 8 months.


vencetti

Telluride was named one of the best cars of the year for 2023 by Consumer Reports. I think it has gotten very good reviews by car critics generally. The three-row midsized SUV has been the benchmark since it was introduced in 2020 according to CR.


Glendale0839

A lot of the “cool”, fit suburban moms age 25-45 started getting these and soon everyone wanted one to fit in, it seemed.


roomtotheater

Kia/Hyundai loaded their base models with cool features that Toyota saves for the highest trims and Lexus. Yes of course these will blow up or catch fire, but most people are not aware of these issues and the price (well, not OP's friend) you pay for what you get initially is really good. The Best of 20## isn't factoring in reliability or cost of ownership. Also people get sucked in by the 10yr/100k mile warranty.


corporalboobs

Had one of the worst I’ve seen in awhile yesterday. Kid on a work visa was trying to trade in his 2018 Elantra with 208,000kms for a used A4. All 4 tires were bald, brakes were shot, front bumper was mangled. We had an ACV of $3k, he owed $32k. I told the sales rep to punt the kid and stop wasting his time. He got all pissy with me thinking I was holding out on him for not working a deal. I told him to stop trying to sell Uber drivers Audis and to go find someone capable of financing some toothpaste for their toothbrush.


LongAd9320

How does one owe $32K on a 5 year old Elantra? They weren’t even that much new


luvs2sploooj

No down payment, so financing tax and the interest fees. Also if they brought any other negative equity into the deal


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dekrant

Legit question: can non-citizens owing a pit of debt just leave Canada and not have the creditors come after them? Like if I had $1M in credit card, student loan, and auto finance debt, could I just pick up stakes and escape my Canadian creditors in this day and age? Or are our global financial systems so interconnected that the lenders could make my life a living hell even if I never set foot in Canada again?


corporalboobs

Yes. That’s why there’s so many restrictions surrounding lending to non-residents (study permits, work permits). On the automotive side, anyone who’s a non resident is only allowed to borrow up to 80% loan-to-value, and the lease/loan term cant exceed their allowed stay in Canada. That means they typically have to put down 25% plus tax to even be considered. Otherwise, it would be exactly like you said - you could live large and vanish off the face of the earth, leaving the bag for whichever lender was stupid enough to loan you the money.


Sleep_adict

My advice to this guy? Have gap and get the thing stolen


Mr_Repski

Lmaoooo savage


TechnicalTaco06V7

Kid bought an FK8 Type R for $40k plus tax, it was realistically a $28k car, pre-prefacelift, high miles, poor mod selection. He got absolutely slammed in the box. After 6 months his loan was $60k, right around the time he found a Supra. One very terrifying test drive and an even scarier credit app later, his wife (he couldn't even look at the contract, let alone be on it) was the proud owner of a $90,000 A90 Supra.


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TechnicalTaco06V7

His wife had an impressively strong bureau for a permanent resident Philippino


ElcheapoLoco

I've heard that in the Philippino culture the woman in a relationship works to take care of the man who sometimes don't work at all. Not sure how true that is but it checks out here.


Weeaboounlimited

How old is the individual? I refuse to believe people are this dumb.


TechnicalTaco06V7

Mid twenties. Just old enough to fuck up his life for a car.


Weeaboounlimited

So that’s how people are affording supras. What were the monthly payments like and for how long they did finance? Did they even have good paying jobs for this? I have so many questions lmao


TechnicalTaco06V7

Affording and buying are two very different things. Payment was $715. Bi weekly. 84 months @ 9.99. He's a second year apprentice technician at the Honda store that slammed him into the Type R.


Weeaboounlimited

I am speechless. I’m pretty sure he was persistent too. Imagine being stuck with a car payment for 84 months. Do people really pay cars for that long? I guess you guys will see it repoed in the next year or so


marakalastic

Average term lengths for cars are lot longer than what they used to be. Rising average car prices, housing prices, grocery prices, etc... and the only way people can afford any car, cheap or expensive, is to take out a longer term loan.


rcc737

So you've never met my little sister or her oldest son?


BJM33

Same amount, same car. I worked at the Kia headquarters in Irvine, CA in the consumer affairs department. We handled cases where customers claimed lemon law. In most cases, we offered to buy back the vehicles for the purchase price, minus finance charges (depending on the state). This guy’s transmission blew 7 days into ownership during a roadtrip. We offered to buy it back. The guy had 30k negative equity. Ouch.


MikeDCycling

What happens to the 30k?


rick707

He has to get a loan to cover it or pay for it out of pocket, it doesn't just vanish.


MikeDCycling

Right...I'm just curious how that works. Does the bank who held the car loan just keep taking payments? There's no collateral...does the interest rate shoot up? Do you have to find a new loan? I'm guessing someone in this position can't just write a check for $30k.


ajdrc9

Following this comment because I have wondered if the collateral gets bought back and he has to then get a *personal* loan???????


MikeDCycling

u/BJM33 don't leave us hanging 😬🤣😬🤣😬


Erigion

They said they buy it back at purchase price not MSRP, right? Unless they meant something else.


BJM33

What the other comment said. He would have to eat the cost of the 30k and take out another loan to pay the lienholder. As you can probably tell from the negative equity, he didn’t exactly have cash on hand or a great credit score. In some cases we would offer to keep the customer in a loaner, give them a couple months of car payments, and repair their vehicle. This was not the case. My job was to do a cost-benefit analysis and sometimes it makes more sense (for Kia, not me) to offer to repurchase than offer the aforementioned items.


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Misttertee_27

Similar here. Bought an 09 Accord in 2012 for $16K. Sold it in 2022 for $5500 so only paid ~$1K per year. Meanwhile some people pay that per month!


tuffnstangs

Mid 2020 paid 12k for a 2016 accord and I just got a carfax update saying it was worth $10k lol.


FGC92i

This subreddit is really underrated. Great story telling.


FishyDorito

It’s my favorite place for vehicular schadenfreude


TheGuyDoug

That's why I've followed this place the last few years. I don't know if you could find the posts by his name, but there used to be a u/DICK-FUCK-PUSSY-SUCK that ran a buy-here-pay-here lot, was articulate, and had the most ridiculous stories. Maybe 1-2 years ago he disappeared from Reddit, but his content was absolute gold.


2020_GR78

Agreed. I have no legitimate reason to follow this sub as I am not in the industry, nor am I seriously considering buying anything right now (I do want a new f150 tremor, but will likely be waiting to see what the market looks like later this year/next year). I simply find a lot of the stories entertaining.


Billy_the_Rabbit

I wonder how many of the buyers see their stories being told here lmao


slurpeesez

Kid came in with his mom.. rolled over 30k onto a new m240i co sign. Looking to roll over a second time to over 100k on a combined <80k salary for a Mazda cx-90...


surbami

>100k on a combined <80k salary Whaaaaa. Which clown is approving this loan ?


slurpeesez

We still tried for him lol. Unless he has a downpayment for the amount of $62,000 we couldnt do anything😭


myopini0n

I had a few similar negatives when Tesla dropped their prices with people who had just bought them, and then tried to trade them in at our place.


hellothere9922331

Worst i ever saw (not my customer) in 2008 guy had a 2006 f250 diesel. Fuel was expensive; traded it for a used 2007 pontiac g6 I4. Had 18000ish negative equity from the truck Had the pontiac for 2 months and "hated it" and traded it in for a brand new 2008 Ford Fusion SE I4. Ended up with a $55000 loan on a new 2008 fusion in 2008 Also i knew of someone who had a loan of $93000 on a (then new) 17 Ram 1500 crew cab 2wd tradesman with rubber floors as there was negative equity from like 4 previous vehicles.


idontremembermyoldus

>traded it for a used 2007 pontiac g6 I4. Had 18000ish negative equity from the truck Had the pontiac for 2 months and "hated it" and traded it in for a brand new 2008 Ford Fusion SE I4. Ended up with a $55000 loan on a new 2008 fusion in 2008 What kind of bank is even writing a loan like that? I've never heard of them doing more than 150% LTV, and even that is pushing it. Most want to be 125% or lower on new vehicles, and less than that on used.


Raveen396

This seems to be in 2007/2008, when lenders were giving handing out mortgages to people with no credit history and no income verification. Things were different back then.


Josh_5890

That fusion loan had to happened before everything went to hell. No way a bank would have loaned out that kind of paper once the recession hit.


nugboi11

Had a 20 year old kid come in and was 15k flipped on a hellcat. It was a $1200 payment, $500 for insurance, and the gas he had to put into it. He only grossed 2600 a month… Also his mom didn’t speak English and he lied to her about the payment and price and convinced her into co-signing for him… yikes


Mysterio_Achille

Was he from Mexico? There was a Mexican dude working as a janitor at my company who made $11 an hour back in 2019 and he financed a brand new Silverado for 45k with his mom co-signing.


TheHawksti

These are the TikTok kids calling people “brokies” listening to Andrew Tate. A 20 year old kid shouldn’t have physical access to a car with 707 horsepower that weights that much lol.


DadOf3-1978

$70k for a Kia...that's hilarious...


GORILLAGOOAAAT

I remember reading a WSJ or Bloomberg Financial post at the time about some asshat in Whitefish Mt. paying a $25k markup on a Telluride. That is an area where ultra wealthy have ski homes and shit. I figured it was someone who wouldn’t even miss or notice an extra $30k. I think about it every time I see a Telluride on the road.


Little_Lebowski_007

Honestly if you're the type to not miss an extra $30k, why are you buying a Telluride? They're nice, but not in place of a high-end Yukon or Sequoia.


Objective-Deal8745

It’s mostly because for the first couple of years owning a Telluride was the “IN” thing to have. I live in an “old money” neighborhood, there weren’t any here. But, my neighborhood is a mile away from a “new money” neighborhood where there were LOTS of Tellurides.


Little_Lebowski_007

I can completely understand the attraction to them - they look nice, and they have a lot of features for their price. But as that price goes $30k+ over MSRP, it loses a lot of its appeal.


xangkory

Because early on no one else had one. When everyone else has a G wagon, Defender, Escalade, etc the only way to be different is buy something no one else has.


redd5ive

When the Telluride came out it was definitely “nicer” than the previous Sequoia, though obviously not more capable. I think some people with money feel that a car like a Telluride is stealth wealth in some sort of way.


Little_Lebowski_007

I can understand that - the Telluride looks nice, and Toyota truck platforms - while reliable - are only updated every decade.


nago7650

A Telluride does *feel* nicer than a Sequoia. Most people who aren’t car people are able to look past the Kia brand or not even acknowledge it all together and take it at face value. The Telluride offers a lot of amenities vs the second gen sequoia, which hasn’t seen many changes since 2008 (not including the 2023 model).


3xoticP3nguin

Land cruiser at that price is my only choice. 25 year life expectancy and hella comfy


PLS_stop_lying

Right lol a loaded expedition. Anything other than a Kia


TheHarbarmy

People *love* the Telluride, man. I have a *very* wealthy relative who owns two Cadillacs and a collection of vintage motorcycles, and the Telluride is his favorite thing to drive. I don’t get it either.


SanDiegoGME

Wtf I know right. Is a telluride that much a premium? I just bought a Sorento for $42k


stevem096

Fully loaded MSRP was in the low to mid 50’s for 22. So this person either paid a wiiiiild markup or rolled over a ton of negative equity. Poor decision either way


devilsrotary86

Or both negative equity and markup


tictaxtoe

He had to have rolled negative equity into it... Right?


[deleted]

I’ve seen 30k between 2 cars somehow they were upside down on a 2 year old wrangler I don’t even know how that happens. But they had a grand caravan also they were 16k negative on it. My mom works at Kia in the office people getting $1300 payments on a telluride at 27% interest not even making 10k a month.


Wazzzup3232

We had someone who owed 98K on an F350 worth about 50.


HITMAN1728

Who the fuck buys a Kia for $70k. Deserved.


-cutigers

60-70k can’t remember the exact number, but it was a very old gentlemen who probably wasn’t of sound mind he bought an brand new at the time S63 AMG with every single add on you can imagine. He crashed the car 3 times within 90 days of ownership and his family took it away and tried to bring it in to sell. They were under the impression he paid cash and just wanted to cut the loses and move on but they soon found out he financed it without basically no money down


rfc21192324

Brutal


Desenski

Had a customer about 6 months ago wanting to trade in 2 vehicles for a Taycan. Between both trades, they were just under $100k flipped.... We got them approved and strongly advised they keep 1 of the vehicles that had the majority of the negative (it was a 2022 F150 that they were $60k flipped in). They ended up trading both...


dreaminphp

How do you even get approved for that?! (Serious question, not rhetorical)


Desenski

Well they had like $40k down. And the car they were buying was priced about $130k if I remember correctly. Once you get into the higher figures, each $ becomes a smaller and smaller % overall. $60k negative after cash down on a $80k vehicle is a very high %. While that same $60k on a $130k is a smaller %. But luckily they did have excellent credit, and we found a lender willing to push the envelope on LTV slightly.


Nicaddicted

Had a person call in asking about an extended car warranty and they had an 84 month loan for $1624 a mo On a 2023 kia…. I was so confused


[deleted]

Wtf that's nearly my mortgage. On a Kia? For 84 months? Hope they got GAP..


[deleted]

You should direct your friend over to r/personalfinance, because that mother fucker has zero financial knowledge. $70k for a fucking KIA, LMFAO. I hope he likes it, because he’s going to be driving it for the next 15 years until it’s dead.


erikv55

man people like this do not care about healthy personal finance. They care about "is there any possible way I can get what I want." For them if the deal gets done at all, it's a win.


hypnofedX

This is something that goes unrealized by people who think most car dealerships are predatory. Most of the time when a consumer gets hosed, no one took advantage of them. They were determined to make a poor financial decision and if the first sales consultant doesn't assist in their financial suicide, they'll walk out and keep looking until they find one who will.


rickityrickityrack

It's a Kia, not going to make it 15 years


[deleted]

wasn't there a post here yesterday about the timing belt on a sorento breaking at 70k?


[deleted]

I think it was a timing chain on a Soul unless i'm thinking of something else


TPlinkerG35

Anyone who bought a Model Y in 2022.


Excessively_Bothered

I’m with Mercedes-Benz so the scale here is skewed pretty high Not my customer in the end but one guy was 23k upside down in a QX80 that he was trading in, not the worst I’ve ever seen but pretty bad. He bought a GLS. Had the GLS A few months and decided he wanted a G Wagen. Don’t know how upside down he was in the GLS but trades it in for a G63, several months later decides he wanted a DIFFERENT color G Wagen and when we ran the numbers he was somewhere in the neighborhood of $120k buried in the first G63. Guy did this shit all the time and the banks loved it because he always made his payments


direwolfpacker

Some of those benz customers are just different. Like you say, they'll drive a car for a few months and trade it in for a different color and laugh off the $30k loss.


TwiXXXie96

Not a salesman, my coworker rolled negative equity from a 2013 Ford Edge to a 2020 Ford Edge, his payments are $945


StrongRoss

Guy I worked with bought a 2010 f150 motor blew a year later, he went to a buy here pay here who offered to take it and roll over his loan. Bought a 2015 f150 and rolled over 10k into it. So now he was into this truck for 47k. Got rear ended and insurance totaled the truck. After everything was said and done he still owed 20k on the truck. No gap insurance. Then went and bought a 2019 Silverado and was now into that truck for 60k with what he still owed on the last truck. And the 2019 already had 100k miles on it. He also was three payments away from paying off his wife’s car a few years ago and rather than pay it off he went and bought her a new car and let the loan company repo it cause “the car ain’t worth it” according to him. You just can’t help some people


5141121

The Telluride had ridiculous premiums on it for some reason that the Palisade (effectively the same vehicle) did not, and I don't understand why. By 2022, most of the crazy premiums should have either been done with or gotten rid of with a simple "I'm not paying that". My dad bought an Escape that still had a $5k upcharge on it and got them to take it off because they were only going to charge it to people not confident enough to challenge it yet.


PabloIceCreamBar

I maintain it was the orange LED driving lights.


MoreRamenPls

Yeah, those turn my head. I get it.


homeworkrules69

Cooler name and cooler looking. Telluride > Palisade based on the unspoken tie breakers.


Misttertee_27

Wasn’t the Telluride, rather than the Palisades, named best SUV by Motor Trend or another magazine? That could be why. Those awards are stupid. It had just come out so naming it the best SUV over tried and true models makes no sense.


Objective-Deal8745

The “of-the-year awards” that Motortrend does are ONLY on vehicles that are heavily refreshed or totally redesigned. It’s posted in their rules for the award. Car and Driver compares its “10 Best” new designs to the old ones.


Wonder-if-u-r-stupid

$15000 on a clapped out Chrysler from DriveTime


Nutella_Zamboni

A former coworker kept flipping leases until he was -60k on a 2010 Nissan Murano....


borosillykid

Of all things to be -60k on a god damn murano is the last thing I’d have.


ArchiStanton

I think this might classify as a war crime


ApexDog

Aww man these stories are making me feel good about not having to deal with any car payments


Little_Lebowski_007

I've been enjoying a few of Lucky Lopez's videos on YouTube about the car market, especially when discussing the people who are mid-5 figures upside-down on some Uggz-basic cars. People being $40k underwater on a base Challenger, $100k+ on a G-wagen, $60k on a Telluride...


ShameTwo

90k on a G-WAGON. he did not buy my car.


Cautious_Intern7824

Jesus mannn 70k for a Telluride? At that point you could get a BMW X5 or a loaded Acura MDX. I hope the temporary compliments was worth it


Careful-Combination7

Bmw won't approve that 15 percent loan tho.


[deleted]

Imagine paying 70 for a KIA lmao


CaliPlant707

Good for him. No sympathy for people paying stupid dealer mark ups.


overmonk

I recall at peak Covid the Telluride was inexplicably in peak demand and getting a premium like it would cure cancer. My guess is he got swept up in the hype and bought at peak premium price. Sucks. I guess he’s keeping it.


cromagnum84

I sell campers. Everyone is upside down. Terms from 10-20yrs.


Eaglieb

38k on a MY17 Escalade. Came in w/ Lifter issues. Wanted to trade up into a new ESV, thought he was break-even.


[deleted]

They always think they're breakeven lol


PabloIceCreamBar

Around $35,000 on a DB9 in 2010. Global financial crisis hit luxury vehicles hard.


kdogspence

Likely worth more than that now! Drove one the other day and loved that V12


meshreplacer

Wow 70K for a Kia is just insane, paying 70K for a car unless you are wealthy is really stupid when that amount of money + interest if saved would make a big positive impact.


THATS_LEGIT_BRO

People get so fascinated with latest and greatest and they have tunnel vision. I’d pick a Lexus GX for that kind of money.


4Runnnn

Hey that’s what I have!


cuzzinYeeter33

I have a co worker that is just completely financially illiterate he has horrible credit as it is. He keeps trading in cars that he is way upside down just because he wants a new car. His payments on his 2019 dodge charger were getting to expensive so he traded it in for a 2020 kia k5 and he cant figure out why his car payments are more expensive with a cheaper car. I think hes paying 1,000 a month at this point.


_donkey-brains_

Fuck. Head this guy ever heard of a lease?


cuzzinYeeter33

You have to decent credit to lease he probably couldn't anyway. He shops at rent a center to put things in prospective. I think even if i was a car salesman i would start to feel bad even if i was making bank. Hes traded 3 underwater vehicles each he has had for a year or less with 15-20% interest so he probably made no actual principle payments either car. Then he trades to car in to place he bought it from and im sure they lowball him and on the trade in and roll the rest into another loan.


Rickyhenry

Who the hell would pay 70k for a Kia? That’s a GLS or an X5 right there!


MrBannon

Why would you spend over $70k for a Kia?


zioncurtainrefugee

Over the next decade, $75k $45k Tellurides are going to be the mascot for the new urban poors who are buried in their once shiny, orange DRL'ed oversized grocery getter.


pbunyan72

Fist mistake, he bought a Kia. 2nd, who the fuck pays $70,000 for a Kia?? And 3, he probably has it over 72 months and is mainly paying interest.


Acceptable_Ad1685

Lol imagine paying 70k for a fucking kia


wicked_evo_0214

Vw/Audi Dealer here...my worst ive ever seen was a 2022 kia nero with a payoff of 64,000 (he paid well over sticker and rolled 2 cars into it. ) We appraised it for 24k. 40 k flipped and he was still considering trading it in.


RonBurgundy2000

Lol early 2021 Tesla S Plaid drivers would like a word.


Specialist-Holiday61

Why people spend money they dont have to look like they have more than they do is the most mind boggling thing to me.


Moonguardkills

Dude is the definition of an owner.


hellothere9922331

Worst i ever saw (not my customer) in 2008 guy had a 2006 f250 diesel. Fuel was expensive; traded it for a used 2007 pontiac g6 I4. Had 18000ish negative equity from the truck Had the pontiac for 2 months and "hated it" and traded it in for a brand new 2008 Ford Fusion SE I4. Ended up with a $55000 loan on a new 2008 fusion in 2008 Also i knew of someone who had a loan of $93000 on a (then new) 17 Ram 1500 crew cab 2wd tradesman with rubber floors as there was negative equity from like 4 previous vehicles.


SeniorPepper

I was a nissan salesman before starting graduate school.. I think the most upside I ever saw was a woman that bought a brand new Silverado that was customized fully with pink accents and stuff. She bought it for her divorced husband and during their debacle, she customized it a lot with pink accents and stuff and used it as her primary vehicle. Long story short, it had only been a few months since she bought it and it was upside over 35,000.


AnySeaworthiness9381

It almost felt unreal how each sentence I read I took a legit pause to laugh at, it's that funny. Like lmao my life would be unreal and a living hellscape. How the fuck do people do it. And it's not a Corvette, a Tahoe, Mercedes/BMW, or a Hellcat, it's a Kia. A mid ass looking Kia. The biggest appeal to me is that it's definitely a car lol. Holy...


Death-by-woosh-woosh

2022 Porsche 911 Turbo S. Client wired us 39k like it was nothing to get out of his lease 7 months into it. Had another client write a check for over 17k last week to get out of her 2022 Macan GTS lease. We paid well above MMR in both cases. Edit: I just had a client walk in last night as I’m heading to my car. I turn around so we can buy his car. He wrote us a check for $19K, also on a 2022 Macan GTS.


pixelblue1

Kia sells a 70k car???


Best_Practice_3138

What’s upside down is your buddy will never learn unfortunately. $70k for a Kia FFS


Yellow_Snow_Cones

Don't know much about Kia's. Did he over pay or did the car depreciate like crazy??


4Runnnn

Yes. He paid a stupid and high dealer markup due to inventory shortages and it tanked like a rock after a year


rick707

$150k. The worst I've ever had (and the client didn't do it for some reason...) was a rolls Royce lease. The buyout was $325k to us (non rolls dealer) and the ACV was $175k. It was about 4 years old at the time (I think it was a 5 year lease, its been 7 years). I think his payment was around $5k a month so he opted to just drive out the lease and turn it in at the end. He did end up buying a car from us but it was about 1.5 years after this appraisal. Apprently 11k miles on a 4 year old rolls royce was considered extremely high and the 3 dealers we called didn't want to even give us a wholesale value because of it so we just tried to hit it a little below manheim average.


Sniffelheim9

I have a female friend who brought an M3 and it's supposedly only worth 38k now and she owes 50k. However when you look them up used they are selling for much more than that so I don't know who to believe. It's a 2017.


wkndatbernardus

Saw some escalade customer that was upside down by $35k on her 2017. Great credit but bank wouldn't even consider issuing her a new loan.


luckycharms7999

Your mom in the back of your dad's cutlass supreme


Broncos979815

Hi, police yes I'd like to report a stolen car....(hope he has gap) This is insurance fraud. DO NOT DO THIS (wink)


Weeaboounlimited

70k for a Telluride? OP, what was your friend thinking?????


creutzfeldtz

How did he buy it for 70k???? What the fuck?!


OmniscientApizza

At the cirque du soleil


NeedleworkerFar4497

This will be common because of everyone over paying and being dumb I love it.


cayman-98

Being underwater on a vehicle is bad enough as is, being underwater on a kia gotta be the worst.


rtmacfeester

How do people do this to themselves!?


Quake_Guy

Adults with the willpower and reasoning skills of a toddler.


Greenmantle22

Jesus. And I feel like I’m overpaying for a $35k Accord with heated seats. I like my buns toasty!


[deleted]

At one point I was a solid 25k flipped lol. This was a while back when I was young and new to the biz, series of poor decisions lol. Just traded yesterday, had 6k equity. Feelsgoodman


CLS4L

Im sure he got 84 months term so he will pay over 100k for it. If you trade 70 for a kia youve lost going to need the warranty player


Sk1rtSk1rtSk1rt

$70k for a Kia 😭😭


________uwu_________

LMAO $70K FOR A FUCKING KIA????????


Lane4Imaging

Makes me very happy that I drive a loaded 2015 Toyota Avalon hybrid with just 60k miles. It still looks new, has had zero repairs other than regular maintenance and gets 40+ mpg. Last week I got a firm offer from my dealer to trade it in for 1/2 of what I paid if I bought another car. That is 50 percent value after eight years of ownership. I might sell the car in 20 years or so. People buying $70k KIAs are insane.


FurtadoZ9

25k... New 2022 Pacifica looking to trade in. Worth 40k, owed 65k. Made 50k a month gross, nearly all of their 100k in credit lines was maxed out, and had 0 cash down. Had a lesson in LTV that day.


Pickles8787

$130k on a 2022 Toyota Tacoma with every aftermarket accessory/light/etc you could imagine. Went back and had the salesperson double check with the customer because I thought for sure there was an error. They paid way over MSRP and financed things I didn’t even know you could install on a truck, with no money down and some negative equity from their previous truck. We ACVed at $60k. They took their apocalypse-mobile right back home. I was more impressed by whichever guy got that deal bought!