What to do about my car?

Question

I have a $498 car payment that I can't afford to pay anymore due to loss of Job. I'm also 6 months pregnant.  I can't sell my Car because I owe way too much than it's worth. I bought it brand new from the car dealership. My loan was $29,900 and the car itself is only worth $19,000... 
What do I do????? :(

Answer

Nobody will refinance you without a job and most places don't care that you can't make the payment. For all of you saying that the dealership will work with her... What dealerships are you having these experiences with.

In all likely hood, you're going to have to surrender the car. It's unfortunate and it will screw up your credit but shit happens and sometimes there's really nothing we can do but roll with it. I'm sorry you have to go through this. Everything will eventually work out.

Answer

This is why I only buy cars flat out.  You never what could happen.

The culture of credit in this country is so dangerous. I know so many people with 400, even 700 dollar car payments. If those are your payments- you can't afford that kind of car. There is no need to have a brand new car which only depreciates in value. You get underwater quickly!

Sounds like you may have to surrender the car or find a lease option.

2,000 should get you a car that runs. I'd save up what I could quickly and go from there.

The last night you need is getting repo'ed out of the blue. Call the loaning agency, call the dealership, and look online for a cheap car you can buy flat out.

I'm so sorry you are going through this! I can't imagine how stressful it must be and car salesmen are no help with their high pressure tactics. 
Good luck girl.

Answer

Go back to your dealership - they might be able to work with you and help you find a cheaper car for a trade-in.

Answer

I'm sorry mama 😞

Answer

Talk to the place the loan is through, they will work with you... But only To a point! My hubby and I just had to choose between his truck or my suv and the other Had to get repoed..... We were sick about it and totally embarrassed, but after we got married, two car payments and insurance on both were just too much, ontop of other expenses, so we had to make a decision, you can always rebuild your credit, yes it takes time but it's doable.... If you can't find someone to help you out, that may be you only option, you can always try and find something used and affordable, but with you already having such a large loan amount, you will most likely need help getting the loan as well... Good luck and just try not to stress too much, life happens, things happen and thankfully it's not all about material things, that bundle of joy your carrying is worth more that Diamonds❤️❤️❤️

Answer

Try to refinance and if that's not an option talk with a dealership to see if you can trade in for something less. Also check with Carmax, they valued my car and the amount of the remaining lease for a difference of like $100. So I paid them to take it off my hands, but was pleasantly surprised when I only had to pay a small amount.

Answer

You can refinance the car with another bank from any other 50 states the dealership has to do the paper work and your payment might go down as low as $159 a month if you can afford anything you might just give it back to the dealership but if u do ur breaking the contract and they might put it in your credit report good luck

What to do about my car?

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