should I reaffirm or ride through.

[jribe]

I have no proplem keeping it. I have about 10k in equity in it. Cause they paid off a title loan I had so if i give it up I loose almost 10k. Thats why I want to keep it. Plus I might just keep it and get a car with a better mpg.

if yu don't reaffirm, and they repo it- they don't get to keep the amount over the cost of your loan that they get for the vehicle.

So if you owe 9,000 when it's repo'd- and they get 14k from it at Auction then 14-9=$5000 back to you. Take in mind though, that they will deduct repo fees and whatever other charges come about because of the repo.

But you don't lose the equity you had in the vehicle; the only issue is what you think it's worth and what another dealer is willing to pay for it.

The dealer buying won't pay "retail" because they need to make a profit when they put it on their lot. So that means at auction- they need to pay less than the "book value"..