i owe 28gs on car loan car book value is 24,585 because of miles of car its not attractive at that cost?

Question

with my online competition,so i may have to settle for 23,000 but the problem is i cant get approved for a loan to make up the difference to pay car of to get title released,i cant save because of the high car payments

Answer 1

Now is it just me, or is the above entirely devoid of any question??? To me it just seems you are getting your just desserts for thinking you had to have a car worth that sort of money without the means to pay for it... modern day rampant consumerism claims another victim!!!

Answer 2

Buying a new vehicle without much of a down payment and getting a 5 to 6 year loan can be trouble. Because she still owes so much, this may be the case. The value of the vehicle will do down much faster than the principal of the loan. When you buy a vehicle this way, you are better off keeping it for a long time until most of the loan is paid off. Otherwise you loose your behind when attempt to trade or sell it. The best way to come out ahead, or at least break even, is to keep the vehicle. Sometimes you can re-negotiate the loan with the lender, but there could be fees involved that could take away any savings you might get. She may also be able to pay more money on the vehicle than what her monthly payment is. Most times, the extra money goes directly on the principal of the loan and can save you a ton of interest down the road.

Answer 3

So you really liked the car and drove it a lot. In the car business we call your problem being "upside down". You must also be in debt other places. My 2006 car I put down $8,700 the amount it would loose in valve the first year For tax title and licence. So fifiteen months latter I owe less than it is worth. Not all People spend wisely refinance zero money down or lease with no chance of ever owning. Sounds like two car loans and double interest to finance your next car. Loan to pay the $5,000 difference Gap insurance coverage too and a loan to purchase a new car you have no money down... WARNING Car Sharks smell blood in the water. A downward sprial into bankruptsy. Or sell off get what you can and drive a 10 year old economy car pay off as many debts and breath again.

Answer 4

Bummer. Life's a bit-h sometimes. You made a bad deal. Get another job and save some money and get yourself out of this hole.

Answer 5

you don't make much sense but if you are have trouble with affordablitly of your car payments maybe you should lower your taste in cars to something you can afford

Answer 6

i'm not sure, but i think this site has the answer to this particular question. they've got lots of stuff about this anyway.

Answer 7

lifes a ***** im afraid. cross your fingers and hope it gets stole ;)

Answer 8

that's life!