unsuccessfully. One of the cars does not show up on my credit report, and someone suggested that I just take it back to the dealership and leave it with them, as they say it will not affect my credit since it has been 3 years and not shown up at all (dealer financed). Other option was to trade in both cars for one, thus consolidating my payment / insurance / etc. Any suggestions? (the car I'd like to get, not that it matters much, but is a hybrid vehicle, so I would save some money on gas... hahaha)
2007-02-08 19:22:33 · 2 answers · asked by hello_beautiful_222 2 in Cars & Transportation ➔ Buying & Selling
Do you have a Carmax near you? Carmax buys cars outright regardless of you buying another car from them. You can tell them you are looking at another car while they inspect and give you a quote on your current car. BTW, how did you end up buying 2 cars to finance at basically the same time? I'm not sure about that scheme of just dropping the car off at the dealer, that sounds like a recipe for disaster.
You may also try listing your car on ebay or craigslist. Seems you don't like either so perhaps try selling both and see what happens, craigslist is free.
2007-02-09 01:24:39 · answer #1 · answered by beavanjb 7 · 0⤊ 0⤋
Even if a loan is not showing on your credit bureau, the dealer has the right and option to report it at any time, so if you do a voluntary repo, they can (and probably will) report it. Plus, since there are 3 bureaus, it may show up on one and not the others.
I would suggest contacting the dealer that is holding the financing on the one car, and see what you can do. They may buy the vehicle back, sell it for you on consignment, or something else.
It will probably not be feasable to trade in two cars with liens on them for another one, unless you have good credit and equity in both cars.
2007-02-09 10:53:58 · answer #2 · answered by Robert S 3 · 0⤊ 0⤋