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car/financial issues

how can you get rid of a car that you can't afford without letting it go back to the bank? we cant do a repo because dh is in the military. and the car is in another state, so we had to get another car. (we can't ship the car because we have no one that can take it to another state to get it shipped)

any advise??


Asked by Anonymous at 8:37 PM on Jan. 8, 2010 in Money & Work

This question is closed.
Answers (6)
  • but they keep saying they don't get the papers i fax to them

    Call them on it. Assemble everything they've been asking for, make clear copies of it, and mail it certified with return receipt. Make sure you include the name and account number at the top of every page. Once you get back the receipt showing they signed for it, they can't claim faulty fax anymore. Aside from that, you don't have too many options. You can try to find someone to take over the loan for you, but they have to assume the full balance due and pass the credit screen. If you have improved your credit at all, consider trying to get a different car, using this as a trade in and having them roll the remaining balance into the new loan, stretched out over a longer time. The last option is a refi, but it sounds like they haven't been that receptive to it. Whatever you do, do not let it go uninsured or unplated, that's instant grounds for repo.

    Answer by NotPanicking at 12:49 AM on Jan. 9, 2010

  • Can you get someone to take over payments? Like a family member etc? What kind of car is it? Have you spoke to the finance company? Sorry about all of the questions, just wanted to learn a bit more about the car/problem...

    Answer by MrsLeftlane at 8:41 PM on Jan. 8, 2010

  • Transfer the lien to someone else, or sell the car and use that money to pay off the loan. Giving them their money is the only way to keep yourself in good standing.

    Answer by DragonRiderMD at 8:56 PM on Jan. 8, 2010

  • Can you sell it?

    Answer by gdiamante at 8:56 PM on Jan. 8, 2010

  • The car is worth 6000 and we still owe 9000 (had no credit when we got it so got screwed on interest.)

    I've tried to work with the company, but they keep saying they don't get the papers i fax to them. its been going on for almost 2 years. they are a horrible company. I just had a baby, so i haven't been able to work. I'm trying to find a job now, but it doesn't make it better right now.

    I HATE MONEY!!! ugh. grrr

    Answer by Anonymous at 10:50 PM on Jan. 8, 2010

  • not sure which branch of the service your husband is in but i think all of them have services(relief society or base legal) to help with company. I used to work with the Navy/Marine Corps Relief Society when I was in and they had programs to help people get out of debt and on their feet. Also, if hubby is in service try looking for a job on base. Base day care center fees are based on pay rate and if you can get into a job on base when your husband transfers so can your job without you losing seniority. My mother did this when my father was in the Navy and it worked really well for her.

    Answer by lori232 at 11:45 PM on Jan. 8, 2010