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If you lost your job and can not afford to pay your car payment can you return the car?
Wiki User
∙ 16y ago
That is a voluntary repossession...not a good idea in the long run. The bank will wholesale the vehicle at an auto auction, apply the proceeds (less selling expenses) to the loan and you still owe the balance. Plus it goes on your credit report. If the car has a retail value in excess of the loan balance, you will be far better off selling the car yourself and paying off the loan. You still have no car...but no car payments and no bad credit report. Even if the car is worth slightly less than the loan balance, you'd come out thousands ahead if you sell it and find the rest of the money to pay off the loan.
Wiki User
∙ 16y ago
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How can you have your car repossessed i lost my job and can't afford it.?
Did you give it back to the finance company? If you still have the car, job or no job, they will be expecting a payment every month. You may be able to call them and make payment arrangements with them.
You cannot afford your truck payment can you sell it 2 dealer and get cheaper car?
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
Will a car payment calculator help me determine what kind of car payments I can afford?
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.
Can you return a new car if you can't afford the payment?
No. Once you sign the papers, you are the owner. You're not the owner until you make the last payment. You were just the buyer and the person who gets to drive around in it as long as you make the payments or you finish buying the car in full.
What to do if you can no longer afford to continue your car loan payment?
sell it and get a moped.
Lost job and Cant afford car loan what can I do without hurting my credit?
Call loan company and explain your situation, see if they can offer you a delayed payment schedule, etc.
A car has been impound can the car be return to owner if a payment arrangement is made with parking tickets plan?
A car has been impounded , can the car be return to owner if a payment arrangement is made with parking authorities.
You can no longer afford your 718.00 car payment What do you do?
sell your car and buy a moped they get 100 miles to the gallon
Return a finance car to the lender?
My car was crashed and I lost my job. How do I return the finance car to the lender?
In British Columbia can you return a used car?
can u return a used car in BC n get ur down payment back
What options do I have if I can't afford my car payment anymore?
sell it, give it back or get another job
What is meant by a balloon payment on a lease car?
A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.
