should I refinance, trade car in ?
2006-07-24 15:18:46 · 8 answers · asked by lee s 1 in Business & Finance ➔ Personal Finance
letem have it you cant afford it
2006-07-24 15:22:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Sorry, but if you can't pay for it now, why do you think you will get a better deal if you refinance? The $2100 isn't going to magically go away.
Trading the car in will also result in the same thing. They want their $2100. So you will still owe that, plus whatever you will owe as payments on the new car.
Call the finance company, tell them you are willing to give them the car back, but you want to negotiate what you owe. The finance company has to pay someone to repo your car, you can at least save that.
And next time when you buy a car, make sure you can afford it. Sorry to sound like your parents, but that's the way it is.
2006-07-26 19:27:16 · answer #2 · answered by kako 6 · 0⤊ 0⤋
Have you tried negotiating a partial payment plan until you get back on track? Don't trade in. Chances are you'll dig yourself deeper. I say refi, but I sell loans for a living. Your best bet is either going to your bank for a personal loan or maybe a credit union, if you're a part of one. If you decide to refinance, send me an e-mail - or maybe we could work out a creative way to balance your finances.
jskerrett@ffbcorp.com
2006-07-24 15:25:14 · answer #3 · answered by Jonathan S 2 · 0⤊ 0⤋
Go to the lender and see about arranging a payment schedule that matches your finances (and stick to it). That's easier than refinancing, and cheaper, I bet. Unless you've jerked them around already, I bet they'd prefer getting the money to the repossession legal hassles.
Trade in? For what? Who's going to lend to someone who still owes an overdue extra $2100, and what kind of car are you going to get? Unless you're trading your Beemer for a Hyundai, good luck. And, to get title to the car, the dealer will have to pay off your previous dealer first... So unless you're trading down to come out at least $2100 ahead (which you won't see) then why bother?
2006-07-24 15:28:09 · answer #4 · answered by Anon 7 · 0⤊ 0⤋
i assume you imagine wanting to be paid as you promised to do changed into both vicious and unreasonable. What are you able to do? sounds like it is already been performed. you may have a repossession on your credit record for the subsequent 7 years. Now the commercial corporation will promote the motor vehicle at public sale, and also you'd be responsible for any stability left after that. until eventually you pay that, in complete, upon presentation, they're going to sue you for the soundness, added unfavorable your credit. by using ways, a repossession is a repossession, there is not any such aspect as a "voluntary" one.
2016-11-25 22:21:29 · answer #5 · answered by brawner 4 · 0⤊ 0⤋
Only one option, pay for the car whether through loans from friends or family. Will be tough to refi affordably, since you are damaging your credit.
2006-07-24 15:46:16 · answer #6 · answered by WJW 2 · 0⤊ 0⤋
Leave it parked with the keys in it, hopeful someone will steal it.
2006-07-24 15:33:05 · answer #7 · answered by Grandpa Shark 7 · 0⤊ 0⤋
NONE YOU HAVE TO START PAYING YOUR BILLS OR GET A CAR YOU CAN AFORD. LOL
2006-07-24 15:24:05 · answer #8 · answered by franciscoeleodoro 1 · 0⤊ 0⤋