Asking for advice
#1
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Asking for advice
Six months ago We've bought a Lexus IS250, Year 2014. red color in San Diego dealer(California state)they financed for us $30,000 and we must pay our debt every month about $500.00 in 6 years. Now our situation has a problem, my husband moved his job to another state and our budget Is in trouble. We do not know what can we do now and I need your advice in this Lexus forum. Please help us. Thanks a lot.
can we come to the Lexus dealer and ask them for help?
can we come to the Lexus dealer and ask them for help?
#3
Lexus Fanatic
Welcome to CL.
You don't need to give out any private information (or anything that you don't think is our business), but we will probably need to know a little more before we can give you any serious advice. How is your budget in trouble? Is your husband forced to take a big pay-cut with the job-relocation? Will his company at least pay for your moving expenses?....(I assume he is a civilian, not in the military being transferred somewhere). How much do you think you will be able to afford? Will you be willing to move down to a less-expensive vehicle (basic transportation of necessary), even if it lacks the Lexus name-brand prestige? I don't want to pry too deeply into your personal affairs, but you really haven't given us a lot to go on.
You don't need to give out any private information (or anything that you don't think is our business), but we will probably need to know a little more before we can give you any serious advice. How is your budget in trouble? Is your husband forced to take a big pay-cut with the job-relocation? Will his company at least pay for your moving expenses?....(I assume he is a civilian, not in the military being transferred somewhere). How much do you think you will be able to afford? Will you be willing to move down to a less-expensive vehicle (basic transportation of necessary), even if it lacks the Lexus name-brand prestige? I don't want to pry too deeply into your personal affairs, but you really haven't given us a lot to go on.
#4
Lexus Champion
It all depends how much you are upsidedown currently. If you are willing to sell under market value, the IS250 will sell within days. But you will need to come up with the balance to pay off the loan. Also do you have another car if you sell the IS?
OR (wouldn't recommend this)
trade in the lexus for something cheaper and refinance into a 7+ year loan, where it cuts down your monthly payment substantially
OR (wouldn't recommend this)
trade in the lexus for something cheaper and refinance into a 7+ year loan, where it cuts down your monthly payment substantially
#5
Lexus Fanatic
Although we don't (as yet) know just what she and her husband are facing financially, that was one of my preliminary thoughts, too, as I mentioned above....getting into a less-expensive vehicle that will be easier on their budget.
#7
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Thanks for good advice
Dear all.thanks a lot for your good advice to us,I appreciate your kindness to us, our budget got troubled because we need to save money for my daughter get in to college this year,my husband moved to the other state for work but his company did not pay him for expenses, that's why we got troubles in this moving, we must pay two rent payment for two apartments,we have one old car ,my husband shipped it and drive to work and we want to sell this Lexus we do not want to get more debt at this time,after I got advertised for selling this lexus they negotiated very cheap price to us only $15,000 dollars. that is terrible.
We did not know what can We do now?it is very difficult to us..
have a goodnight.
We did not know what can We do now?it is very difficult to us..
have a goodnight.
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#8
Worst case scenario should be getting an estimate from your local CarMax, if you have one. They buy cars without you having to buy another one from them. That should be the absolute lowest/worst amount you can quickly offload the vehicle for.
#9
Lexus Fanatic
Six months ago We've bought a Lexus IS250, Year 2014. red color in San Diego dealer(California state)they financed for us $30,000 and we must pay our debt every month about $500.00 in 6 years. Now our situation has a problem, my husband moved his job to another state and our budget Is in trouble. We do not know what can we do now and I need your advice in this Lexus forum. Please help us. Thanks a lot.
can we come to the Lexus dealer and ask them for help?
can we come to the Lexus dealer and ask them for help?
The bright side is that you are not stuck in some long lease. (leases are never a good idea). I am assuming you have some sort of mortgage as well.
Your best case scenario is selling the Lexus car. If you can get into a significantly smaller and less costly car, you will be better off. You then need to pay off this debt that you have.
#10
Pole Position
That's some crazy price.
Maybe ask your husband's employer to cover some of the expenses for his relocation, apartment rent, transportation/cost, and etc.? I think this is a reasonable request.
Or instead of getting a "full apartment"......... Maybe share an apartment/room? Assuming just your husband there when working. I don't know where this is, but if it is in any type of "college town", then there are more options to just "rent a room" to keep the cost down. In some college towns, it is possible to rent a room from an apartment complex from the management. Meaning you get a secured locked bedroom room with your own bathroom (in a 2, 3, or 4 bedroom apartment while share the kitchen and living room) within an apartment complex. Your lease agreement is just between your husband and the apartment management.
Another option is to find someone who wants out of an apartment lease and willing to "discount the rent" in exchange for your husband to take over the remainder of the apartment lease. This is a little more complicated, but doable.
Finally look at local newspaper/college newspaper online or in actual print for people looking for roommates. Or families with their kids gone to college looking to rent out a bedroom in their home. Don't forget to look at Craigslist too (I know you have to be careful with Craigslist or any ad of this nature).
I believe if there is a will, there is a way to get through the rough times.
Good luck.
Maybe ask your husband's employer to cover some of the expenses for his relocation, apartment rent, transportation/cost, and etc.? I think this is a reasonable request.
Or instead of getting a "full apartment"......... Maybe share an apartment/room? Assuming just your husband there when working. I don't know where this is, but if it is in any type of "college town", then there are more options to just "rent a room" to keep the cost down. In some college towns, it is possible to rent a room from an apartment complex from the management. Meaning you get a secured locked bedroom room with your own bathroom (in a 2, 3, or 4 bedroom apartment while share the kitchen and living room) within an apartment complex. Your lease agreement is just between your husband and the apartment management.
Another option is to find someone who wants out of an apartment lease and willing to "discount the rent" in exchange for your husband to take over the remainder of the apartment lease. This is a little more complicated, but doable.
Finally look at local newspaper/college newspaper online or in actual print for people looking for roommates. Or families with their kids gone to college looking to rent out a bedroom in their home. Don't forget to look at Craigslist too (I know you have to be careful with Craigslist or any ad of this nature).
I believe if there is a will, there is a way to get through the rough times.
Good luck.
Dear all.thanks a lot for your good advice to us,I appreciate your kindness to us, our budget got troubled because we need to save money for my daughter get in to college this year,my husband moved to the other state for work but his company did not pay him for expenses, that's why we got troubles in this moving, we must pay two rent payment for two apartments,we have one old car ,my husband shipped it and drive to work and we want to sell this Lexus we do not want to get more debt at this time,after I got advertised for selling this lexus they negotiated very cheap price to us only $15,000 dollars. that is terrible.
We did not know what can We do now?it is very difficult to us..
have a goodnight.
We did not know what can We do now?it is very difficult to us..
have a goodnight.
#11
Lexus Test Driver
I don't want to sound harsh or difficult. Your debt is actually approx $66k ish if I did my math correct (car loan + debt). That is a significant amount of debt for any family in the current climate.
The bright side is that you are not stuck in some long lease. (leases are never a good idea). I am assuming you have some sort of mortgage as well.
Your best case scenario is selling the Lexus car. If you can get into a significantly smaller and less costly car, you will be better off. You then need to pay off this debt that you have.
The bright side is that you are not stuck in some long lease. (leases are never a good idea). I am assuming you have some sort of mortgage as well.
Your best case scenario is selling the Lexus car. If you can get into a significantly smaller and less costly car, you will be better off. You then need to pay off this debt that you have.
Leasing is never good - right, lol
#12
Lexus Fanatic
#13
Lexus Test Driver
You read wrong - the car loan is $30k, which was financed over 6years at $500 per month.
You obviously never leased a car, nor drive new luxury cars.
If you did, the economics favor leasing. Not to mention if you are self employed etc.
You obviously never leased a car, nor drive new luxury cars.
If you did, the economics favor leasing. Not to mention if you are self employed etc.
#14
Lexus Fanatic
#15
Car Chat Moderator
iTrader: (4)
Lets not get into lease vs. buy debate in this tread again, it has been beat to death.
If everyone buying cars for financial saving/cost, we should all get a Corolla/civic then.
OP, don't sell it to dealership, advise the car locally and online, Lexus IS easy sell than others and
you will get a lot more than trading it in. Dealer pays you 15k and they will turn around put on their
lot got 23999.
If everyone buying cars for financial saving/cost, we should all get a Corolla/civic then.
OP, don't sell it to dealership, advise the car locally and online, Lexus IS easy sell than others and
you will get a lot more than trading it in. Dealer pays you 15k and they will turn around put on their
lot got 23999.