This example would not look favorable, however I want some recommendation. My spouse and I financed a automobile by Honda again in October after we required a second car to commute to work. Nevertheless, my spouse now works from house, and the necessity for the second automobile has diminished. In accordance with my calculations, the remaining quantity on our mortgage is roughly 31k, and Carvana has supplied to purchase the automobile for 24k.
My query is, if I had been to promote the automobile again to Honda, what occurs to the ‘detrimental fairness’ on the mortgage? I’ve heard conflicting info, with some saying that dealerships would possibly waive it off, whereas others declare that we have to pay the remaining quantity upfront.
I perceive the state of affairs I’m in, please reframe from shaming my state of affairs as theirs others in my sneakers.