pickupguy89

Ok so i bought a 04 mazda 3 last year to visit my gf (x gf now) in pa so i would have a reliable car and for my son, now since we broke up i no longer need this new of a car, considering i just drive around town, to school and to work,

Now the thing is im trying to get out of the car loan and wondering what the best way is to, i started school so i dont want to pay for school + car + apartment + other bills.

Car still has about 10k on it and im pretty sure i cant sell it for what the pay off is.

Anybody have this problem before? im wanting to sell this car and buy a cheaper car in cash so no payments, hence like a civic, or vw or something.

I was also thinking of selling it for maybe like 7k-8k and paying off the rest of the loan like 2k will be cheaper payments and what not. Depending on what CarMax will give me, i tried trading it in a few months ago and they were gonna give me like 6k-7k for it.

Let me know your guys ideas, thanks.

boredom

turning the car in still works as a repo on your credit report iirc. then only 2 options i see you have are to either finish paying for it, or find someone who can/will take over payments.

pickupguy89

Yeah well the repo hurts, and i already have a repo in my name from my father, i co-signed for a car and he didnt feel like paying for it anymore and let the bank pick it up, so 2 repo's will kill me.

its not that surious like i can afford it its just going to be tight, ya know?

ShadowStyle2DX

Call the lender and see what your options are. I financed cars through my bank and when I go to sell them I call the bank and have them transfer the title to a local branch. Meet buyer at bank during business hours + pay off loan = receive clean title.

Computer_Nerd

try something new.


own up to your responsibilities. set an example for your son.


1) Sell car yourself
2) Sell car to CarMax
3) Pay your bills, you agreed to a contract

ufctapout

Yes we all have this problem. Welcome to the world of debt.

JROW

Sell it privately, and you probly won't get enough to buy another car, but you will be out of it. Then get a bmw (bike, moped, or walk your ass).

Total it and claim it on your insurance, good luck with that.

Whatever you do, keep making your payments until you sell/total it, otherwise you will never buy a half decent car/house/microwave again.

-JB-

Don't make irrational decisions over pussy.

pickupguy89

Im still paying on it of course, untill i can sell it or someone take it off my hands, thanks.

buugiewuugie

If you have good credit you could re-finance. Sure the loan would extend out further. But your payment would probably drop quite a bit.