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oladunni · Jun 5, 2008, 03:23 AM

I have a 006 model car which was financed and I have been paying well for the last 6 months but recently I moved to another state and it is very hard finding a suitable job. Now it is like I only work to pay for my financed car and my cheque is not even enough to make the payment. As a result of this, I have been having sleepless nights because I know very well that if I should return the care I am still going to make the payment or credit is screwed. I am confused as to what to do. If anyone knows where I possibly can find a job, I live in Rhode Island at the moment or maybe I should return the car and start afresh.

Fr_Chuck · Jun 5, 2008, 04:12 AM

First you can't just "return" a car, unless perhaps if you bought it at a buy her/pay here place that may allow you to do it.

But if you give it back, that is considered a repo, they will sell the car, normally at auction for a lot less than it is worth. Then you will still have to pay for the balance due.

valeriealm · Jun 22, 2008, 06:05 PM

Originally Posted by oladunni

i have a 006 model car which was financed and i have been paying well for the last 6 months but recently i moved to another state and it is very hard finding a suitable job. Now it is like i only work to pay for my financed car and my cheque is not even enough to make the payment. As a result of this, i have been having sleepless nights because i know very well that if i should return the care i am still going to make the payment or credit is screwed. I am confused as to what to do. If anyone knows where i possibly can find a job, i live in Rhode Island at the moment or maybe i should return the car and start afresh.

You could possibly refinance your car to give you some spare time till you get a job It will give you a couple of months