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 Credit Question? |
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 Can i sue someone for my down payment if they got my car repossessed, and they were a co-signer? |
Additional Details
I was out of work and the cosigner told the dealer they were going to make the payment for that month and they didnt...I didnt hurt anyone's credit because it ... |
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 A question about depositing money in the bank? |
okay i have a bank account at chase bank
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and how long will it take before i can ... |
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 How to get my money back? |
| i joined the bally total fitness with a friend like a couple months ago. he doesn't have a bank account so i co-sign for him. the total amount of his and my member ship is $4068. couple months ... |
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| Defaulting on a car loan? |
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 How can I improve my credit score quickly? |
I have a 479 credit score. It sucks. I can't do anything I want with my life to really improve a lot of things. How can I improve this quickly?
Additional Details
Oh, I am 26 yrs. ... |
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 I'm upside down with my car for $7000 what to do....???? |
| I bought a brand new car a year ago. My car payment is almost $500. I will like to trade in for another car that worth this payment but my payoff is $20,000 and the trade in value is $13,000. So I�... |
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 Rental car holds!!? |
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 Will a foreclosure effect your credit rating worse than bankruptcy? |
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 Cosgined for my sisters engagement ring? |
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| What is the deal with these online advance payday loans? |
The bills aren't added up right and i need some extra cash for my shots for LPN school.
My question is: Do these things work and how? Do they go off credit? How do they determine how much ... |
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 How do I get on welfare.? |
| My mom thinks that I've been working enough now and I do too. I'm looking to take some time off for a while from work and get some relaxing time in. I need something to cover our mortgage,... |
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yep its me | Refinance,let the car go back or trade it in? |
I bought a 2006 honda civic ex a year ago my payments are over 500 a month (i had bad credit) I have paid on time for over a year. my problem is I can no longer afford the payments. I love my car but i need some options that will help me get my payments down to atleast 300 a month so I can keep the car and afford to move out of parents home. (single parent and no help from the sperm donor) what options do i have? I still owe 21,000 on it intrest rate is 15.5% if i traded it in i would be upside down, if i let it go it would go against my credit, anyone have any ideas?
Additional Details
The best refinance deal i can get is 14.84 for 72 months which is not even a hundred less then what I am already paying and this is from the same finance company that i am currently with. I think my only option is to trade it in and take a loss. what do you think? |
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Jeff the drummer
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sounds like you're gonna lose money on it no matter what you do. Sell it privately for as much as you can, and come up with the difference somehow.... or
trade it in on something more affordable and just take the hit.
Its gonna hurt no matter what you do. |
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delilah
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you'll loose money if you trade it in. try to sell it to a private party. go to www.kbb.com it's a blue book to see how much is your car worth and try to sell it.
the other option is to refinace it, maybe you can get a 6 year loan, which will lower your payments a lot. if you paid on time the whole year, i'm sure you'll get it. the best is www.eloan.com. they give the best rates.
good luck! |
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Fahad S
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I agree, you will lose money if you trade it in. If you like the car and can afford lower payments, have you paid the car payments on time? If so, contact your loan company and make that known and let them know you are willing to work on paying off the car but will need to refinance because 15% (by the way OMG!!!!) is too much. See what they say, and if they are willing to. I would GUESS they would rather work with you and than for you the default on the loan (unless if your loan company is Fireside Bank). If that doesn't work, try another loan company (again, such as eloans) and see if they can give you a lower rate.
If that doesn't work out either, sell it. Your car is in demand these days considering the gas prices. It should sell for a good price, but try to renegotiate your loan before you go down another road.
You will need to put in some footwork in this situation but the overall outcome will outway the work. :) |
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stan c
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First, do not volunteer to return it! usually, they get 3 bids and that's it. If you need the car, keep it. If your parents own their home, do you think they would take out a 2nd mortgage for 15 years. That would reduce your payments. Also as stated, get your ex to start paying child support. |
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reality
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If you trade in your car, you will loose allot of money, because, they will price your car around 15000.00 and the difference (6000.00)
they will add to your new loan, so DON'T DO THIS. What you can do, is call the bank, start with the one you paying write now, and tell them that you are looking to refinance your car and lower your pmt, if they can't help you, check all the banks around, car leasing co, usually can do refinance for you, just do some serious shopping around, and you will get it. Good Luck! |
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Etta P
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Well, your smart to start working it out now before they repo it. It sounds like you may owe too much to sell on the private market, it might be better to try to refinance it than to trade it in. Being upside down can be financed in most case, but your payments are not likely to go down that way. Good luck to you |
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Expert Realtor
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Holy cow, you paid $21K for a honda civic and your payments are over $500 at 15.5%??????
I hate to tell you this, but you'll need to let the car go back. There is no question that you are upside down in your loan, and you can't sell it...b/c you wouldn't get enough to get a payoff.
My recommendation is to call the loan company and voluntarily give the car back or try to sell it privately...that way they won't charge you the reposession fees, which can be extremely steep.
You will most likely get a deficiency judgement against you, and how much that is, will depend on how you proceed next. It will go against your credit, but your only alternative is to keep paying the $500 until you pay it off.
I know this isn't what you want to hear, but I don't see another way out of it. |
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DebtFree
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child support? ever hear of it? this guy has to give you money for the kids he made.
sell it privately... since new cars lose value like a rock, you will likely owe more than you can sell it for... so you have to get a loan for the difference. you will be paying for a car you no longer own. dave ramsey calls that stupid tax. (we've all done it). |
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