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dontnvmee718 · Apr 7, 2007, 10:15 PM

HI, My name is janine and I just purchased a 2006 chysler 300 base model about a year ago. It has about 12,000miles and I cannot afford to pay for the car anymore.When I first bought the car I was miss informed by the dealer ship about how much I would be paying monthly.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?:

slowandeasy · Apr 12, 2007, 04:18 PM

You mean you signed papers and did not know what your payments were going to be?
I don't know but I think I would have made sure I knew before I signed! Any way I think you are pretty much stuck with it unless you can sell it and pay off the car loan If you let it go back they will sell it and you will have to pay the difference if it is not sold for the amount to stasify the loan Maybe someone else out there can better advise you Hopefully you can sell it good luck!

ScottGem · Apr 12, 2007, 04:25 PM

What's worse if that you are unlikely to be able to sell it for more than you owe on the loan. If you are lucky, you might find someone who will take over the payments.

Fr_Chuck · Apr 12, 2007, 07:41 PM

Yes, finding someone who will take over payments is about your best choice,

If you let it go back, they sell it, and you will still owe the balance from what the loan is to what it sells for.

If you owe more than it is worth, you will have trouble selling it.

May want to consider a seond part time job to help make payments

E3317 · May 2, 2007, 08:02 PM

Try refiniancing

kinch2 · Dec 2, 2009, 03:58 PM

You can let the car go back to the lender in a number of ways, and do chapter 7 bankruptcy . Chapter 7 is less then 300 bucks and a high school kid can figure it out. Just be able to pass the means test for your state.
You lose the car and lose the debt. But if you can, you need to buy something you can afford and like before doing bankruptcy. This is what thousands do each year across the US. Bankruptcy is easier and better then ever. People simply do not take the time to read.
So find the right car , buy it, and give the other back. Who cares what they will do to it, it will be dismissed in court. Now days people get ripped off every day by crooks.