I still owe $8,000 and I can't pay anymore payments. I want to leave the car someplace where the finance company can pick it up. Will finance companies such as Primus just take the car back and not file suit?????
2006-09-18 07:35:36 · 9 answers · asked by oh_no_not_now 1 in Cars & Transportation ➔ Buying & Selling
You can't do that.
You are still responsible for the whole amount. Don't ruin your credit. They can refinance it to make the payments lower. You should have thought about that before making the purchase. Refinance. They will work with you. If you give it back they may sell it for only $2000 and you are still responsible for the balance PLUS attorney fees......
2006-09-18 07:38:15 · answer #1 · answered by Trollhair 6 · 1⤊ 1⤋
No, you signed a loan note on the car and that is a legal binding contract. If you just leave the car and stop payments, you not only lose the car, but everything you paid on it already, your credit will be destroyed, among other things. Your best bet would be to contact the loan company, tell them your situation and maybe they will work with you solve your problem. Loan companies do not like to reposess autos, that just means they have to get rid of it again and they do not make money that way.
2006-09-18 14:47:42 · answer #2 · answered by jetfighter 6 · 0⤊ 1⤋
HAHAHAHAHA Don't you wish. What would you do if someone owed you 8,000 dollars and all you had was a car worth 3 (guessing). Your credit is going to get screwed up because you are not credit worthy.
2006-09-18 14:37:35 · answer #3 · answered by Mike Hunt 5 · 0⤊ 1⤋
You're about to voluntary repo to a SECONDARY company. You will NEVER get another car without INCREDIBLE amounts of cash down. Get a second or third job to pay for it.
2006-09-18 16:48:39 · answer #4 · answered by Manny 6 · 0⤊ 0⤋
Best way to do it is to file bankruptcy. They can't sue you for the balance.
2006-09-18 14:44:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No way to get out of this
2006-09-18 15:17:38 · answer #6 · answered by swenson0 5 · 0⤊ 1⤋
JUST INSURE IT FULLY WITH $0 DEDUCTIBLE AND GAP INSURANCE... AND CRASH IT IN TO A WALL OR PUSH IT OFF A CLIFF. PROBLEM SOLVED WITHOUT RUINING YOUR CREDIT.
2006-09-18 15:35:10 · answer #7 · answered by I LOVE EWE N MEI 1 · 0⤊ 1⤋
Have you considered an "Insanity Defence"?
I am sure you would qualify.
2006-09-18 15:36:02 · answer #8 · answered by jayes.33391 2 · 0⤊ 1⤋
You'll be SORRY!
2006-09-18 16:06:38 · answer #9 · answered by Trump 2020 7 · 0⤊ 1⤋