What would you do?

[MoM.i.aM]

OK, this will be long so stick with me. We are currently a car payment and a half behind. They repossesion department has been calling us for 2 weeks now, maybe longer. The car isn't in our name, its in MIL. She "bought" it for DH as a graduation present telling him she would pay $70 of the car payment. After a while she couldn't afford it anymore and DH agreed to pay the whole car payment which is $407. It is that high because when she bought it she decided it would be a great idea to get oil changes on the car for an extra $70 a month, but didn't fully read the contract to see that expired after 3,000 miles or the first year, which ever came first. So anyways, it was bought in 06 and this is the third time we have gotten behind like this. They won't put off a payment or work with us in any way. So, unless we come up with one whole car payment by the time they decide the dead line is then they will take the car. The insurance on the car is $90. I was thinking if we got a used car in our name and insurance in our name (insurance is in his moms name as she owns the car) then we would be saving so much money. If we got a used car and the payment was $250-300 it would be so much easier to pay and would be much cheaper. Would you pay as much as you can as you can on the car we have now or just let them take it and get something cheaper?

[angie729]

Since the car is in his moms name I would talk to her about the situation. See what she suggest yall do..maybe she can help come up with the money to keep it from getting repoed and then trade it in? Hope everything works out for yall.

[Momof2MixdBoyz]

How much longer do you have to pay on the car first off... See if you can work with the bank to either re-finance or something.... if you talk to them you usually can work out something!!

[kimosgirl08]

I would look into getting something cheaper if you can. Its obvious that your MIL can't afford it either.

[TarotMommy]

Um, I'd try to get a loan with lower payments so as not to Frakk my MIL...

[MoM.i.aM]

Pretty sure we still have 3 years. MIL called about refinancing it about 6 months ago and they wouldn't do it. Br />

Quoting Momof2MixdBoyz:

How much longer do you have to pay on the car first off... See if you can work with the bank to either re-finance or something.... if you talk to them you usually can work out something!!

[MoM.i.aM]

How? We are financed through Wells Fargo.

Quoting TarotMommy:

Um, I'd try to get a loan with lower payments so as not to Frakk my MIL...