I have a car loan that is just too high for me right now. I really wanted a brand new car but didn%26#039;t really think of the payment and what it would do to me. Now I%26#039;m backwards on my loan and can%26#039;t re-finance it because I%26#039;d have to come in with the difference between what%26#039;s it;s worth, and what I owe. I want to save my credit, but at the same time, just can%26#039;t afford the payment anymore! (i don%26#039;t have any late payments on it so far) Please help!
What%26#039;s the best way to sell/get rid of a car that you%26#039;re backwards in payments on?
find someone else to take over the payments. Im actually lookin to take over payments but I have bad credit.
What%26#039;s the best way to sell/get rid of a car that you%26#039;re backwards in payments on?
Sell the car, borrow the difference at your local credit union. In that case instead of owing 15K you owe 2K.
What%26#039;s the best way to sell/get rid of a car that you%26#039;re backwards in payments on?
Get a second job and fulfill your contractual obligation.
What%26#039;s the best way to sell/get rid of a car that you%26#039;re backwards in payments on?
Unless you can find someone who will buy the car for what you owe, you are pretty much stuck with the loan. To save your credit you have to keep on paying the loan and find other ways you can cut down on your expenses. Sorry not really much you can do here.
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