Repossesion?
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Fanboi
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Re: Repossesion?
You can do a voluntary repo which is better for your credit... you call them and tell them you can't afford it and to come and get it vs. stopping payment and having them find you/track you down.
Also, you can call your finance company and tell them what's going on and in many cases they'll work with you to try and reach an arrangement. It's cheaper for them to do that and have you keep paying vs. repo.
Or you can sell the car to Carmax etc. but that only works if you have equity in the car (you owe less that it's worth) and can pay the loan off with the proceeds from the sale.
Also, you can call your finance company and tell them what's going on and in many cases they'll work with you to try and reach an arrangement. It's cheaper for them to do that and have you keep paying vs. repo.
Or you can sell the car to Carmax etc. but that only works if you have equity in the car (you owe less that it's worth) and can pay the loan off with the proceeds from the sale.
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#9
Gettin it!!!
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