Financial Advice with car.?

Question

I have a loan for a 2002 hyundai accent. The payoff on it right now is something like 4600, almost twice as much as a dealer will give me and just about the same as I will get for it selling it as a private seller. I dont like the car it has gotten too small, and i am having all these problems with it. When i bought it the circumstances made this car about my only option more or less. It is under my mothers name but i have moved out of the house (19). Should i just keep it and keep paying for repairs, try to sell it and get as much as i can (i dont think that is legal since the bank still owns it) or is there a way i can take it to a dealership and work something out where payments will be affordable. I pay 150 a month right now with no warrenty. I can afford up to 200

Answer 1

Dealers work with this every day, and make a lot of money from people like you.
Here's what I suggest.
1. If you can live with the car, do so and save up some more money because you still cannot afford much (sorry)
or
2. sell the car for as much as you can and pay off the debt and buy one that you can imagine yourself with in 3-6 years. Remember this is your mothers car and she has to sell it
or
3 throw yourself on the mercy of the dealer, who will talk you into a car that you cannot afford with payments that will be as long as possible. This will involve your mother and she might not want to do this. (understandably)

Answer 2

I wish i grew to become into 17 years previous. No broking will sell you a automobile. No lender will lend you funds. At 17 you won't be in a position to be held to any style of settlement for a sale or a private loan. it will come. do no longer rush it. whether a private proprietor bought you a automobile he'd be legally to blame if some thing went amiss. and you'd be able to desire to return the vehicle in products for an entire refund.