Does anyone have an experience that you have a vehicle that the payment are too high?? I have tried trading the truck in because the payments are just too high right now financially. They will not let me refinance the truck and I am too upside down and they will not add it to another vehicle. Please give me some of your insights. I have thought of just turning in the truck which I only have 21 more payments.
Have you gone to a credit union. Instead of a regular bank.. Try a credit union
We had a Suburban a couple years back. The payment got to be too much as our financial situation changed. We took it to CarMax. They offered us a price, which just happened to completely pay off the loan. Was the EASIEST transaction ever. They are very particular about the behicles they buy, however. Need to be bery clean, no dents, dings. i would highly recommend them to anyone trying to get rid of a car quickly. I will even go there next time to buy one. No hassle, no haggling. The price is the price. If we didn't go through CarMax, we probably would have done a voluntary surrender of the car. Does still go on your creditm however.
Good Luck
If they do repo it it will hurt your credit but what else can you do if it comes right down to it. I know sometimes the decisions can be hard but when you have to chose to pay this or that, sometimes the that is more important. I would try selling it, it won't hurt anything for it to be listed even if it doesn't sell. Maybe you can find someone to take over the remaining payments.
Sell it outright privately. You will, however be liable for the difference that's left. You could then get a loan from, say a credit union, for the price of a modest used vehicle and the balance owed on the truck.
NEVER finance a vehicle if you can at all manage to scrape up the cash.
Start with a cash vehicle and make yourself a car payment every month until you can move up in car a little, and just keep doing that.
If you turn it in you will still have to pay the balance. If you must try to sell it. You M. need to get un upside-down on it before you can though.
We had a great experience with CarMax. We collected a fair price for the car, minus what was owed, which they sent in for us.
What we did was post the car for sale and we just let the buyers know that they would have to pay off the balance they came to our house to do all the the talking so that we knew that we were serious. Soon after they made the payment the finance co. sent us the paperwork, we got together and gave it to the buyers. It took a about a month for the car to be sold, but it all worked out. Good luck!
