2007-08-17 11:47:37 · 15 answers · asked by sarabarnthouse 1 in Cars & Transportation ➔ Buying & Selling
pay it off. lesson learned yet? don't buy things with other people's money. )OPM).
2007-08-17 11:53:44 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Unfortunately there is no easy way out. If you can sell the car for more than you owe then you are ahead.
What I do is buy a used car that I can afford to pay cash for, or mostly cash so I do not have this problem.
I guess you found out what it means when the dealerships say" we will pay off your trade" and then they whisper something like "all negative equity goes towards the balance of the new vehicle."
Car dealers are slick, it is best to do your homework before you shop.
So , anyway, my advice is sell the car for what you owe, or more on your own. I have seen people try to sell a car by saying that the new buyer can take over the payments, I have no idea how they do this. I guess they would have to help the next owner apply and get a loan.
Good Luck...I hope this helps a little.
2007-08-17 12:00:55 · answer #2 · answered by brwnidjkmo 3 · 0⤊ 0⤋
You can try selling it for what you owe, or at least most of what you owe on it. If you clean it out to the max, and put a shine on it, it should sell easily. Look at the blue book value to get an idea of how much it is worth. Advertise in the news paper classified, or one of the other advertising papers that specialize in selling cars. When you know what it's worth, don't let them talk you down too easily, but if it's not selling you can say your price, or best offer. This route is better on you than getting it repossessed and getting bad credit because of it. Even if you still have to pay some when the deal is done. You can bet you will be more interested in getting a good price for it than the dealers, because they have you to fall back on to make up the difference if it doesn't get what you need. Good luck!!
2007-08-17 12:00:30 · answer #3 · answered by Jann 3 · 0⤊ 0⤋
Well in our area they have a weekend "car mart" where you pay a nominal fee and place your car on their lot over the weekend and they watch out that its safe. People come to the lot and give you a call to come down and let them test drive it and everyone lives happily ever after.
OR
You can place it for sale with a sign in its window and maybe park it outside of where you work or create an ad on Craigslist where folks swap and sell things they don't want or need (great site and reasonable)
You may have to pay a small amount to make up the difference if the car is upside down with your bank, but its a small price to pay for peace of mind.
Good luck and I wish you a happily ever after.
2007-08-17 11:57:02 · answer #4 · answered by OPTIMIST 4 · 1⤊ 1⤋
Your problem is the 6 years of financing, the inflated fee, and so on. Your pastime fee is low. Your maximum suitable guess could be to confirm what the month-to-month money could be on a greater effective length of loan (lots bigger) and discern the version between what you're putting on the automobile and the better fee. Stuff that quantity of money or greater right into a credit union account each month till you're arranged to sell the automobile and evaluate sufficient to pay off the automobile. Pay greater on the automobile once you could. Spend time on staring at resale values of used Prius's and see whether call for is up so intense that the Blue e book is at the back of the (non everlasting) circumstances.
2016-11-12 19:17:30 · answer #5 · answered by ? 4 · 0⤊ 0⤋
can you advertize in a classified paper or you can do a volintary reposion. contact the company you make your payments to.they will tell you the next availible time thay can pick up car you should be at the place they pick up the car from .to sign a document then the car goes to a auto auction after that they send a letter probley you have to pay for the differance.that they lost.
2007-08-17 12:05:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Trade down to a car that you can afford, you might loose money but you Will be in a better position. Explain to the car salesman what your situation is, maybe he will help you out. Even better take your car to where you bought it and explain your situation, he might be a lot more motivated to fix your problem.
2007-08-17 16:59:02 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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2007-08-18 02:21:18 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Learn for next time......and sell it already. Or have somebody take over payments.
2007-08-17 11:54:08 · answer #9 · answered by Anonymous · 1⤊ 0⤋
KEEP IT , OR TRADE IT IN AND GO EVEN MORE UPSIDE DOWN IN A NEW CAR
2007-08-17 11:53:19 · answer #10 · answered by jon_wayne89 5 · 1⤊ 1⤋
some things you just cant do. sometimes the only option is to finish the payments.
2007-08-17 11:54:32 · answer #11 · answered by Anonymous · 1⤊ 0⤋