2006-12-18 03:22:40 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
You havent said that you cant afford your car payments so im going to suggest 2 things to you. If you are just looking for a new car that you wont be so upside down on, you need to find the car, NO MATTER THE MAKE OR MODEL, that has the most rebates on it to bury your negative equity. I know at one time it was the dodge ram with about 5k in rebates. The chevy suburban also had about 10K in rebates. From now on if you have good credit dont buy.......... lease........
Or put your full coverage insurance to use and drive your car off of a cliff.
2006-12-18 03:44:23 · answer #1 · answered by Michel D 2 · 0⤊ 0⤋
1
2016-09-27 23:25:22 · answer #2 · answered by Madeline 3 · 0⤊ 0⤋
I see some ideas: a million. artwork an more beneficial activity. maximum human beings can make $a million,000 in line with month more beneficial by technique of taking a 2d, area time activity. this can help you pay down the steadiness right away and get out. 2. communicate with the lender. really what you want to do is promote the motor vehicle, use all the money from the sale to pay in the route of the interior most loan, then take a own, unsecured loan for the version. this can decrease your funds, and a 2d activity may help you sparkling the own loan as right away as feasible. i propose that you downgrade to an older used motor vehicle for a at the same time as. the completed reason you're in this mess is because the uncomplicated new motor vehicle looses 70% of its value contained in the first 4 years. it is an severe priced thanks to function a motorcar. force a beater at the same time as you sparkling up this debt and keep up some funds. Then pay funds for a respectable used motor vehicle it is about 4 years previous. do no longer purchase a sparkling motor vehicle till you're financially waiting to spend thousands of bucks with out sidetracking your aims. also i do no longer propose you deliberately enable the motor vehicle to be repossesed. in case you promote the motor vehicle your self, and signal a own loan for the version, you may promote the motor vehicle for honest market value. If the lender takes the motor vehicle, no longer in effortless words will it ruin your credit, yet they're going to acution the motor vehicle off for a number of thousand below its rather properly worth, then they're going to sue you for the version and doubtless garnish your wages in case you do not pay. So permitting them to take the motor vehicle in effortless words serves to advance the quantity that you're up-part-down, and ruin your credit. It received't make the issue flow away.
2016-11-27 02:06:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you are upside down on a loan, you need to sell. You need to cut your losses and try to find a cheap, reliable vehicle. Sell via private party rather than trade-in as you will get more out of your vehicle. Try http://www.kbb.com/ for the estimate value of your vehicle and go to http://www.cars.com/ to take possibly sell the vehicle. Next time, try to buy a car that retains it's value. Honda's are great vehicles that generally do this.
2006-12-18 03:36:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You get a different loan and pay it off.
2006-12-18 03:30:51 · answer #5 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
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2015-01-27 11:48:50 · answer #6 · answered by Ardelis 1 · 0⤊ 0⤋
try early pay off
2006-12-18 03:25:24 · answer #7 · answered by Tina L 1 · 0⤊ 0⤋