Or wrong?
I have an upside down loan on my current vehicle due to a bad loan I signed when I was younger. There would be no way for me to sell this car for the amount owed on the loan unless someone was just bonkers. The $500 car payment is killing me. I can afford it but barely. There's always a way out right? Is there ANY way to get rid of this vehicle w/o killing my credit for the next 7-10 years?
2007-02-04 07:17:44 · 3 answers · asked by cleo_michelle73 2 in Business & Finance ➔ Credit
Can you maybe re-do the remaining due amount on the loan for a bit lower payment? Or, get another loan to pay it off and then pay on the other loan. Might be able to do that for a little less each month.
I doubt that you could just let it go back to the company without ruining your credit.
2007-02-04 07:28:31 · answer #1 · answered by kiwi 7 · 0⤊ 0⤋
Try refinancing the l0an on it. The bank that you have the car loan with, might even refinance it for you. If not, you could try your bank or do a search for auto refinancing and you should find places that will do car refinances.
2007-02-04 07:43:45 · answer #2 · answered by kelly h 3 · 0⤊ 0⤋
i had an upside down auto loan and the only way out was to file bankruptcy.
2007-02-05 18:55:20 · answer #3 · answered by luciousgreeneyedlady 5 · 0⤊ 1⤋