What is the best way to get rid of the vehicle and get her into a cheaper car?
2007-01-02 07:52:02 · 10 answers · asked by bronco 1 in Cars & Transportation ➔ Insurance & Registration
Declare bankruptcy.. and just buy a cheaper vehicle.. if it is worth it to do so?
2007-01-02 07:56:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
if she's upside down in her vehicle, it's gonna be pretty hard to get her out of it. buried, we like to call it. the best bet is to find a car that is newer, but has a ton of miles on it. there's a bigger chance the banks will loan the money b/c the value of the car is higher b/c it's newer. the banks will only loan a certain amount of money on a car based on value, but you should be able to roll the amount of "upsidedowness" into her new payment. i know that's how she got into this situation, but if she can deal with not upgrading her car this time, she can get out of it. but, with the divorce happening and possibly no stable income, you might have problems. maybe she should concider bankrupty.
2007-01-02 08:06:21 · answer #2 · answered by Jen 4 · 0⤊ 0⤋
A consolidation loan maybe? Put all of her debt on that, payoff the individual debts like credit cards and the car loan, and then just make that one payment? Upside down is not an easy thing to get out of.
2007-01-02 11:09:15 · answer #3 · answered by Chris 5 · 1⤊ 0⤋
i just read that title and for a minute i thought ur daughter just got ina car accident and you went on this to get help on what to do. i was like .. no he .. im reading this wrong or something.. wtfrick?! lol... i was gonna say call a perimedic with a degree in law? or something? in all honesty.. if you want to get a cheaper car then do this.. find a toyota camry being sold privately. because gas prices have gone up so much, more people are selling their expensive cars for cheaper small cars that are low on gas. therefore, car companies can raise the prices of their originally 2-2.5,000 dollar car to 4 or 5,000 dollars. It is next to impossible to find a working used car for 2,500-3,500 dollars nowadays. Camry's rarely die and they basically have NO problems on the road. Im 17 and i love my slamry... i even put neon and a whole new speaker system in it. great gas milage too. if only it looked better on the outside.. it'd be the god of cars by far.
2007-01-02 08:10:00 · answer #4 · answered by Corey 4 · 0⤊ 2⤋
Divorce has nothing to do with being upside down. Why don't you switch cars with her & take over the car & her payments?
2007-01-02 09:26:03 · answer #5 · answered by Anonymous · 1⤊ 0⤋
this is why you must live within your means. and by all means, live under one pay check. this is the safest way to go. hindsight 20-20. unfortunately there is not a lot you can do. try to make your payments and reduce other bills. for example: canceling your cell phone. cut corners in other ways if you can. always be prepared for a financial hardship. be ready to cancel just about anything to make your house and/or car note. because we have to work and we have to drive to work. try getting a supplemental income on the side. good luck.
2007-01-05 11:32:49 · answer #6 · answered by REALLY 5 · 0⤊ 0⤋
There is nothing you can do. I'm in the same boat. I can't get rid of my car because its upside down.
2007-01-02 08:00:47 · answer #7 · answered by theresa kay 1 · 0⤊ 0⤋
WELL U CAN SELL IT 4 A LOSE AND GET WHAT SHE CAN, OR MAKE HIM TAKE IT OVER!! BUT SELL IT WRITE OUT OR FIND SOME ONE IN FAMILY WITH GOOD CREDIT AND TRY TO TRADE THAT CAR IN AND PUT BALANCE ON NEW CAR!! DONT TRY WITH A USE CAR U WILL REALLY LOSE!!
2007-01-02 08:00:57 · answer #8 · answered by DMagic 1 1 · 0⤊ 0⤋
Get it "stolen" (left in a bad neighborhood with the engine running and the keys in the ignition) and then collect the insurance.
2007-01-02 07:58:26 · answer #9 · answered by Gene 3 · 0⤊ 1⤋
Wat are we talking bout ?? Upside down ?? Divorce ??? This is auto forum. As far as the vehicle, go to used car dealer and work out a swap. Problem solved
2007-01-02 07:59:17 · answer #10 · answered by tronary 7 · 0⤊ 3⤋