[quote=harvey]How can someone be $11K underwater on a car?
Take the car to Chula Vista and conspicuously leave the keys on the roof. Go have lunch somewhere and be sure you have transportation back home.
That will improve your balance sheet by $11K.
[/quote]
? Unless they bought gap insurance (and even that expires after a brief period) they would be out the difference between the car’s value and what they owe.
ie, they would still be on the hook to the bank for $11K and yet have nothing to drive.
