I have a 06' Eclipse that I got in 05' that I can no longer afford to keep. Any suggestions..??? Any and all will be greatly appriciated.
2006-09-11 06:43:09 · 11 answers · asked by Proximare T 1 in Business & Finance ➔ Personal Finance
Sell it..Contact your creditor and see if your loan is assumable (meaning, someone applies for a loan and assumes your payments).
2006-09-11 07:00:49 · answer #1 · answered by Q.S.G 3 · 0⤊ 0⤋
Maybe you ca keep the car, but refinance - e.g. find someone offering longer repayment periods, with lower payments.
Also, as we approach the end of the model year, the manufacturers are offering some fine deals (including 0% financing).
Bottom line - you have a "nearly new" Car. You are almost certain to take a hit selling it (I had this problem in 1993). You may even find you can't afford to sell - negative equity could be a killer - i which case, refi might be a better option. If you've already paid off 12 months of repayments, you should have reduce the principal a little, which should balance increased interest rates on refi.
2006-09-11 13:52:24 · answer #2 · answered by dryheatdave 6 · 0⤊ 0⤋
I love CarMax, they will buy your used car even if you don't buy one of theirs. Buy you could trade it in for a different '05 car. I got an '05 Saturn Ion for only $13,000.00 It had less than 8,000 miles on it and it is the top of the line Ion (Level 3). I wanted an '06 Eclipse at first too, but once I saw the payments, I decided to go another direction.
Good Luck with it!
2006-09-11 13:51:09 · answer #3 · answered by sdarp1322 5 · 0⤊ 0⤋
If you truly can't afford it, then it's only a matter of time that it gets sold (by the bank at an auction care of the repo man).
You should take matters in your own hand and SELL IT for it's fair market value. If it get's auctioned off, the bank will make you pay whatever it doesn't fetch at an auction.
SELL IT
2006-09-11 15:53:29 · answer #4 · answered by derek 4 · 1⤊ 0⤋
Sell it with the ad. Take over payments.
You will still need to buy another car to get around in but for now it would get rid of the payment and keep you credit good.
2006-09-11 13:50:07 · answer #5 · answered by HEATHER 4 · 0⤊ 0⤋
Trade it in at a dealership. They will give you a car you can afford, probably not as flashy as you would like, and take that one off your hands.
2006-09-11 13:50:06 · answer #6 · answered by Ferosia 3 · 0⤊ 0⤋
List it in The Recycler
2006-09-11 13:48:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Place signs on the automobile itself with contact numbers.....word of mouth.....run newsaper ads where can.....even check your radio stations to see if offer swapshop ads.
Best wishes!
2006-09-11 13:47:42 · answer #8 · answered by Marsha 6 · 0⤊ 0⤋
Sell it.
Trade it for another model you'll be able to afford.
2006-09-11 13:46:07 · answer #9 · answered by wisechineseguy 3 · 1⤊ 0⤋
sell it or have someone take over payments ( make sure they get it in their name) or turn it back over to the bank. good luck!
2006-09-11 13:46:38 · answer #10 · answered by Anonymous · 0⤊ 0⤋