I am behind on my car payments, I am trying to sell the car but I cannot find anyone to buy it for what it is worth and for the amount of the loan balance. Is there a way the bank would accept a short sale instead of re possessing the car?
2007-03-23 04:19:59 · 5 answers · asked by Amy 2 in Cars & Transportation ➔ Buying & Selling
Trade it in and get your eyeballs screwed out
2007-03-23 04:28:00 · answer #1 · answered by Matt T 3 · 0⤊ 0⤋
There is a few things you can do. First why are you behind in your payments? are they too high? are you out of work? If they are too high call the finance company and tell them what you can afford a month. They usually can extend your loan to lower your payments. If you out of work and can see yourself getting back on track in a few months ask the finance company to work with you. They can usually extend you loan and give you a few months breathing room. When all else fails they really don't want your car. You can call them and tell them you have a buyer for "X" they know what the car is worth better then you do. They, more then likely have a few repeos already at the auction and know what the going sale price is. They will, more then likley work with you and let you pay off any diference over time rather then repo the car.
2007-03-25 18:29:15 · answer #2 · answered by asccaracer 5 · 0⤊ 0⤋
the final ingredient you prefer to do is commerce the vehicle in.if your going to place funds down on yet another motor vehicle,sell yours first and use the money to pay the soundness the commerce in gets much less return for you.The dealership will purely lose the version interior the place of work work.Your in a plenty improved place without a commerce.on the subsequent motor vehicle do not take out a private loan for extra effective than 3 years.The interest on a private loan over that doesn't assist you to pay sufficient theory to owe something close to the value of the vehicle.in case you won't be able to swing a private loan for 36 months check out a hire,or a used vehicle of the comparable 3 hundred and sixty 5 days.
2016-10-19 10:30:32 · answer #3 · answered by ? 4 · 0⤊ 0⤋
only thing i can think of is trading off that car if you can get another loan at a car dealership for a cheaper car and add the difference of the price to the new car price or refinance the car to get cheaper payments
2007-03-23 04:25:00 · answer #4 · answered by celicagts001 3 · 0⤊ 0⤋
trade down...go to a dealer and trade you newer car for an old one...you get lower payments for a longer time and a crappy car but it works....people never learn about $ till its too late,
2007-03-23 04:25:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋