Help...I need real advice soon..at whits end?

Question

I brought my first new car.. With no real advice,make a long story short...the monthly payments are high!!! I was in need of a car bad since my used car, i had broke down on the freeway with me and my three daughters. (what a horrible experience) on my way to work and drop kids off to school. I needed a reliable car... so I went to a dealer ship near by... I was desperate and all i was thinking about never have a car break down. My credit was barely new, i never really establish credit I would just try to buy things used in cash. i'm a single mom and i explain to the dealer the carpayments was out of my range..he stated for me to keep the car a few months and then get the payments reduce. it's been a struggle for 11 months now. i have fallen behind twice but i manage to get caught up by the grace of God. come to find out Toyota financial does not refinance does not re-finance their cars. i have an 172.5apr. i can not afford this car any longer!! i don't want it to go back on my credit

[e-mail]

i try credit union and a finance company i was turn down cause of the delinquent payments but i caught them up, they staed for me to make 6 more payments on time and they will help. but i can;t afford 1 more.. for the monthly payments i should be driving a jag,merced,bmw.. the dealer got me!! try 500.00 don't forget car insurance. God knows some body help me!!! ToyotaFinancial account # 0066377567

my car is 2006 with 31,000 miles payoff 19,612 worth 15,000....email me [e-mail] if you can help ..THANK YOU SO MUCH!!

Answer 1

Hello Bri. Your situation is very unfortunate. I read one of the posters mentioning you buying another vehicle and letting your Toyota get repo'd. The problem is that given your situation, I can guarantee that the new lender will want you to trade your current vehicle in as a condition. It takes good credit and stable income to qualify for 2 auto loans, especially if one has a payment of $500 per month.

If you can call Toyota Financial at [phone], they will give you your current balance. We can't get that information without the last 4 of your social security number, which you should never give out. We can compare that to a current trade in value.

Another thing to look at is maybe finding other bills you can reduce for the 6 months the credit union requires before they will give you a loan. Things like suspending cable TV, reducing long distance call, and similar bill. We will also need the year, model, options, and mileage of your current car. I hope we can help you.

Answer 2

Real bad situation---you should never let a dealer or salesman talk you into payments that are not affordable, they are real snakes sometimes just to get the sale, they will tell you anything. You have to do your own research and be ok with it.
Best thing to do now is find another dealer that will sell you a car for no money down and low payments (some will do this if they keep the title until it's paid for---not the best way to go, leasing is another option for lower payments and low down payment) and then default on or turn back in the other car to Toyota finance....better to have one bad mark on your credit than to have to struggle every month for who knows how long to make that one payment and let other payments possibly lapse. If some other financial hardship hits, you'll be sunk. You need to have 3-6 month's of living expenses in the bank for emergencies and be able to pay your monthly bills on time with some to spare ---that's how you establish excellent credit. One bad mark may hurt for a while but it's not the end of the world....living within your means will always give you peace of mind.

Answer 3

you're no longer a foul mom. i understand what you're dealing with. my daughter is now very practically 4 and she or he became an analogous way merely she had acid reflux affliction on perfect of the colic. she cried nonstop until eventually i've got been given her off my breast milk. she became allergic to that so i placed her on isomil. it stopped the crying slightly and easily helped with the reflux yet we never quite have been given her to end crying constantly. she became a 300 and sixty 5 days and a a million/2 previous in the previous getting her to sleep all night long. my relationship with my husband became strained because of the fact no person became getting sleep. it became a nightmare to declare the least i think of at approximately 10 months the crying slowed down. i'm undecided if it became from the reflux or colic. i recommend getting a radical pal or relatives member and putting them on speed dial. once you experience which you cant take care of it anymore merely call them and say i want a destroy. my mom in regulation became my savior. while she have been given off artwork the different day or so she could come help me take care of the toddler and allow me sleep or circulate paying for by ability of myself. it became any such alleviation. my husband and that i've got been given to the element that we desperate to no longer have any further little ones because of the fact we don't choose to circulate via this returned. solid success along with your new toddler.

Answer 4

Find another bank or credit union to refinance. Explain to them what your going thru and see what they can do for you.