Sell it on your own. You may not be able to sell it for the amount owed, but work out a deal with the bank to finish paying for the vehicle at a reduced rate after it's sold. Most lending institutions would much rather work out something than have it go into bankruptcy. That, plus it's a lot better for YOUR credit history if you take matters into your own hands and deal with it now.
Call your lender.
You have to sell the car. If you give it back, it will still look as a repossesion...a voluntary repossesion. You do not want someone to take over the payments,as there is no guarantee that the payments will be made on time. Sell the car or try to refinance the balance, it is the only way. Good Luck..
what can you do when you cant make a car payment what can you do when you cant make a car payment
Don't think so , unless you used your house for collateral when you bought the car. Generally they will repo (take it) it and you may be responsible for the remaining balance that is owed.
Yes there is. There are several sites on the internet that have calculators that can help you determine if you can afford the monthly car payments. They will also be able to tell you the in-tress on the payments.
Depends on what you mean by
Yes, you can self repo your car if you can no longer afford your car and is financially unable to pay the payments for your car.
You should contact the finance company. Perhaps, you can make smaller payments and stretch out the loan or perhaps you can turn the car in and avoid them the trouble of repossessing the car in exchange for not having your credit ruined.
Only if you can afford payments for a new car and your used car is in very bad shape.
sell it, give it back or get another job
Yes a car payment calculator will help you work out what you can afford. However, it will also tell you the exact amount needed for your payment which is important to know.
The best option would be to sell the vehicle for the equity you have (as in, the amount you have paid on it) and buy a reliable used car for cash with no payments.