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    MiNA005's Avatar
    MiNA005 Posts: 1, Reputation: 1
    New Member
     
    #1

    Apr 10, 2007, 01:57 PM
    Need to get rid of a new car!
    HI, My name is Mina and I just purchased a 2006 Chevy, Cobald about 10 months ago. I cannot afford to pay for the car anymore.When I realized the payments where too much for my budget each month, it was to late to return the car.My question is how do I get rid of this car now that I cannot make this payment no longer?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 10, 2007, 02:05 PM
    List it in the news paper, and try to sell it. Most likely it may be hard unless you put a lot of money down, I guess is you will have a issue that you owe more for the car than its value lists at right now. ( but I could be wrong)

    Really there is no other real choice. You may need to get a second part time job or something to be able to make the payments
    gazelleintense's Avatar
    gazelleintense Posts: 175, Reputation: 13
    Junior Member
     
    #3

    May 2, 2007, 07:57 PM
    You may be able to sell it and get a loan for the balance...

    For example, lets say you owe $20,000... and it sells for $15,000 from some buyer... you would need to get a loan for the difference and pay on that... $5,000 in this example.

    A local credit union may be able to finance the difference.

    You could try telling the people you bought if from your situation... that you can't afford it.
    E3317's Avatar
    E3317 Posts: 103, Reputation: -5
    Junior Member
     
    #4

    May 2, 2007, 08:01 PM
    Wreck it, burn it, get it stolen.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #5

    May 2, 2007, 08:06 PM
    Quote Originally Posted by E3317
    wreck it, burn it, get it stolen.
    Yes and not only do you get rid of your car, but the state rewards you with free room and board for several years, in their cell block bed and breakfest program

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