Okay i bought this truck and now i realize that the notes are to much and i 'am about 5,000 upside down on the note what can i do about this and sale and clear my name on it it"s a 03"ford f150 ex ccab xlt red with sun roof in houston tx.
2006-06-14 14:35:55 · 9 answers · asked by lovlisuzy51880 1 in Cars & Transportation ➔ Buying & Selling
Sell privately - is one option. you'll have a better chance of finding someone who will pay enough to help you. don't trade or sell to a dealer.
another option is to call the finance company - ask if they will refinance it. (or ask for an interest rate reduction, if granted, this will lower your payment)
2006-06-14 14:50:27 · answer #1 · answered by me 7 · 0⤊ 0⤋
Have you tried talking it over with your bank or loan company? If you are honest and tell the loan officer your situation most will offer some advice. It might hurt real bad in the long run, but depending on how long ago you purchased it, you may be able to re-finance at a slightly higher rate and for a longer term in order to get the payments to a more manageable amount. If you do this, then try to make extra principle payment a few times for a year and list the truck for sale at a price closer to the resale value. You may still wind up "Loosing" on the deal, but your credit will not suffer and you will have learned how not to buy a vehicle.
This is a crappy way to do it if you can, and if you do it is not the way to go every time.
2006-06-14 14:45:23 · answer #2 · answered by jinx4swag 3 · 0⤊ 0⤋
ok attempt this .... bypass to Carmax and get an estimate. See how a lot you're the incorrect way up then bypass to the monetary employer and practice for a signiture personal loan to cover the neg fairness. --- Its more desirable suitable to pay off $5000 than be the incorrect way up on a vehicle that loses fee on a daily basis with miles, gas prices and harm....
2016-10-30 22:10:37 · answer #3 · answered by harib 4 · 0⤊ 0⤋
Pay an extra $5000 on the loan and then sell it.
Trade it in on a vehicle with a high rebate (but you'll likely end up in the same situation).
Declare bankruptcy.
Refinance the loan to a lower rate/payment so that you can pay it off faster.
Buy "gap insurance" and then torch it.
2006-06-14 14:39:16 · answer #4 · answered by rlchv70 2 · 0⤊ 0⤋
You signed the papers and your stuck. The only option is to find a buyer that will pay enough to cover your loan, or someone that will buy the truck by taking over the payments.
2006-06-14 14:43:17 · answer #5 · answered by shell 2 · 0⤊ 0⤋
Consider it tuition in the school of life...
2006-06-14 14:40:34 · answer #6 · answered by Professor 3 · 0⤊ 0⤋
shouldn't have bought if u couldn't afford it Du
2006-06-14 14:40:31 · answer #7 · answered by biggrizz2006 1 · 0⤊ 0⤋
Richv70 is right.
2006-06-14 14:43:59 · answer #8 · answered by Huevos Rancheros 6 · 0⤊ 0⤋
What?
2006-06-14 14:38:11 · answer #9 · answered by J~Me 5 · 0⤊ 0⤋