I have a 1998 Pontiac Transport and I owe $6900 on it. My payments each month are $380. I have poor credit. I looked on Kelly Blue Book website and found that my car is only worth $5,760. I have I paid almost $4000 on it already (I have had it for a year and a half). I bought it from Fast Finance. What should I do? I need to lower my payments. I have tried talking to the people that I financed the through and they said that there is nothing that they can do to help me. What should I do?
2006-08-17 03:19:27 · 8 answers · asked by avatars_cherubim 3 in Cars & Transportation ➔ Buying & Selling
Your best option is to get another job to pay that bad boy off.
KBB doesn't buy cars and a dealer isn't going to give anywhere NEAR that kind of dough for Pontiac Transport. You'd be lucky to get 2 or 3k. A dealer might give you more as an allowance to pay it off and roll you in a new car, but you better like it! You will never trade out that new car until you get the title. And since only Chysler and Kia have the kind of priced vehicles and disgusting rebates it would take to lower your payments AND bail you out, your car WILL hate the car w/in 3 years of owning it. IOW, you'd be jumping out of the frying pan and jumping into the fire.
2006-08-17 07:33:10 · answer #1 · answered by Manny 6 · 0⤊ 0⤋
Try and bargain with the car retailers that you think would be sympethetic and would give you a higher price. However, as on the Kelly Blue Book website that you car was only worth a little less than 6k meaning the car company will probaly take your car for 5.25k and sell at your price. After bargaining with the retailer(Try not to mention the sale price except when he/she posts too low of an offer), get a Toyota or a Honda for about 5k. These car brands are fuel efficent and mostly matience free. When you get one, get it at about 2000 or so and try and get the manager to get you a factory warranty. Then you can settle your car affair and tend to finishing off your bad credit. But whatever you do to do that, don't take a loan from banks.
2006-08-17 10:10:24 · answer #2 · answered by jpower201 2 · 0⤊ 0⤋
The only thing you can do is try to get a new car from a used car dealer. They may be able to pay off part of your vehicle when you trade it in, then work with lenders to get you a lower payment. Tell them what you can do and what you need, now don't expect to get a corvette or anything, but shoot for a well maintained Cavelier, or Neon, Stratus. Good luck
2006-08-17 03:39:42 · answer #3 · answered by shadyaftermath 2 · 0⤊ 0⤋
Where did you go for the advice prior to purchasing this rip off deal?
You need to pay off the loan.
Then never do something like that again.
Try getting a part time job and put all that $ to the loan.
Do whatever it takes.
Do side jobs for cash like lawn mowing or fix it jobs...
What are you good at?
Make extra cash doing it.
Remember, anything that seems too good to be true is most likely a scam!!
Always think things through.
Peace and good fortune.
2006-08-17 03:34:23 · answer #4 · answered by elibw 3 · 0⤊ 0⤋
Default on the loan, save 3 months of payments buy a good used car and then declare bankruptcy.
2006-08-17 03:25:03 · answer #5 · answered by Anonymous · 0⤊ 1⤋
it's hard to ge refinanced on a vehicle over 5 yrs old,,,one way or another you're gonna end up losing out.,,,,My advice would be to clean the car up as good as you can,,,and start driving around with a for sale sign....Take 6 gran,,,cut your losses,,,pay off the debt so you don't screw up your credit further,,,and start over,,,,OR,,,find a dealership that will pay it off for you ,,to upgrade you to a newer car.
2006-08-17 03:44:38 · answer #6 · answered by Dr. Biker 3 · 0⤊ 0⤋
u really cant do anything. there is no other answer i can give u. sry
2006-08-17 03:25:17 · answer #7 · answered by Mike Dub 3 · 0⤊ 0⤋
Make more money.
2006-08-17 03:25:15 · answer #8 · answered by Today is the Day 4 · 0⤊ 0⤋