2007-02-01 01:20:56 · 6 answers · asked by sook6955 2 in Cars & Transportation ➔ Buying & Selling
its a 2002 honda accord coupe ex with 35,000 miles ...leather seats...
IM CURRENTLY FINANCING....
2007-02-01 01:21:49 · update #1
yeah repossion can be bad - not only for your credit score but also you would lose out on quite a bit of money seeing that the finiancer would take the money from the re-sale first and those types of auctions usually bring less than what the car is worth and if your state does not have an anti-deficiency statute you could be stuck paying off part of a loan for a car that you dont own anymore. the best coarse if you are sure that you can't make the payments is to try and sell it and get as much out of it as possible and then pay back the lender. other than that - try and get help from friends and family (although borrowing money from friends and family sometimes isnt a good idea). heres a little piece of info - a lender can not "breach the peace" while repossessing - so if you have a garage - lock the car in it. the lender can not break into it and take the car. but then anywhere you drive it and leave it out in the open the lender could repossess it then
2007-02-01 01:29:21 · answer #1 · answered by noah 3 · 0⤊ 0⤋
You need a cheaper car! Your driving around in a car that costs twelve large when there are plenty of nice cars for under 6K such as the 4th Generation Nissan Maximas and Infiniti I30's, 1996-98 Toyota Camry, and the 1994-96 Acura Integra and Acura 3.0CL.
2007-02-01 01:31:44 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Honey, you have a way out but it's not very pleasant...
Do a little research and find out what vehicle is out there in the market is the LOWEST in price. ($8000-9000) and trade your car in for it. The upside down from your vehicle will be transferred on top of the new car's price and you will walk away with a loan payment that (hopefully) is less than the one you have now. I don't think you said how much that is.
You have other options, but they aren't really legal.
2007-02-01 01:26:18 · answer #3 · answered by rob1963man 5 · 0⤊ 0⤋
Get some one to take over the instalments from u. Let them pay u a deposit so u will have enough cash to get a new affordable car without worying where u will get a deposit from. Who ever is taking your car must just register it to his/her name.
Both of u will be happy.......who ever takes your car will end up with a bargain and u can go and get yourself a new car u can afford
2007-02-01 01:39:22 · answer #4 · answered by skip_tiny 1 · 0⤊ 0⤋
well you can sell it immediately, pay down on the debt you owe on the financing on your original loan. The balance you still owe will be considerably less than your original car loan.
2007-02-01 01:25:55 · answer #5 · answered by minorchord2000 6 · 0⤊ 0⤋
talk to the finance people.. you gain nothing by worry..They may help you by extending the loan for a lower monthly payment...dont wait..
2007-02-01 01:25:18 · answer #6 · answered by Anonymous · 0⤊ 0⤋