I bought my car 5 months back on a loan but now i am moving to a different country? How can I best dispose car

Question

I bought my car 5 months back on a loan but now i am moving to a different country? How can I best dispose my car with minimum liability to me. Can I give it back to the dealer I bought the car from and cancel the loan?

Answer 1

Now that the deal is done, the dealership is completely out of the equation. The only relationship left is between you and the lender. You may agree to let them repossess it, but they will just go sell it, then bill you for the difference between what you owe and what they sell it for. Sorry, but you may just have to sell it, and pay the difference between what you paid for it and what it is worth now. Other than repossession, that's the only LEGAL way to get rid of it.

Answer 2

What do you mean by "Dispose" of it? I hope that you aren't thinking of committing any sort of insurance fraud.
Call the loan company and see what they can work out. Also there are some car dealerships that often buy cars without you having to buy a new one. Something to look into.

Answer 3

The best is to consult your loan company. Normally they will advice you on the best solution to your situation.

Answer 4

properly, i'm moving out at 17. My birthday is in December so as quickly as I graduate i'm going to purely be 17 and that i'm unlikely to attend till i'm 18 to pass out. i could be moving interior the iciness and that i prefer to pass interior the summertime. i'm purely moving out because of the fact i'm going to be out of highschool. even though you sense would be precise for you, do it. you ought to attend till you graduate so as which you do no longer could desire to pass to intense college jointly as living on my own. There could be infrequently any time to artwork and you could possibly have hardship paying lease.

Answer 5

Why don't you try and sell the car???? Dealer will give you the lowest possible price.