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Cant afford car payment, how to get rid of it

Posted by on Jun. 9, 2009 at 1:53 PM
  • 4 Replies

We financed our car, now we are going on broke, is there a way we can just turn the car back in and just pay off the interest......

by on Jun. 9, 2009 at 1:53 PM
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Replies (1-4):
bribribri
by on Jun. 9, 2009 at 1:56 PM

Yeah, contact your bank, they'll tell you about it. It will effect your credit, though, so if you don't want your credit score to go down you might want to try to find someone who wants the car and will take over payments. My husband and I are doing that right now, he's already got the paper work filled out, she just has to set up payments through her bank and it's a done deal.


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LuvmySFSGT
by on Jun. 9, 2009 at 1:58 PM

It will probably cost you thousands to get out of the car loan.

Not only do you have to cover the interest your car has probably lost a lot of value and you have to cover that difference as well. Plus you will have a repo on your credit.

What you could do is put your car for sale...and pay the thousands of dollars difference to pay off the loan when you sell it.


shaedog3
by on Jun. 9, 2009 at 2:06 PM

i have been calling my finance company since the beginning af april to pick mine up  and it is now almost the middle of june and they still havnt picked it up!!!!  They do however call all of my references  and ask them for our address and say "we just want  our truck back"  after  i have been calling for monthe telling them my address and to pick it up!  they also ask them if they know dhs  employer's work num!!!

they still havnt picked it up

 

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