What Should You Do if You Can’t Afford Your Auto Loan?

When vehicle prices skyrocketed, many people bought high and are now underwater in their car loans. What does this mean for the economy and what can you do if you are stuck in a loan you can’t afford?

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[bretdriver]

I have no choice but to do a repo and file bankruptcy, but before I let the car go and it hits the credit bureaus I'm going to get financed for another used car.

[Petesworkshop]

People don't like being told they can't afford the same car everyone else is driving. But not being in debt is the sweetest plumb.

[michaelpiwcewicz]

HIDE THE CAR// MOVE//DO UBER//LIE TO PEOPLE//

[IkeCarterShow]

one day, we are all going to look back at vehicle leases and finances the same way we look at time shares today.

[gracelikerain]

Im going to let them take the car AND file bankruptcy save my money to buy a new one in cash after

[AEvans]

A lot of people get sucked into that car vortex by dealers using tax refunds as bait on the hook and/or a 90 day no payment deal. Once those 90 days are up, you have the slippery slope. People who let themselves get pulled into that vacuum find themselves stuck with a car they knew from the start that they couldn't really afford. The dealers don't care bc they know they have legal recourse.This is another situation just like the housing crisis back in 2008.
It could all be avoided if people would stop using trends as guideposts in their life.

[hollyspencer]

Never said what to do besides paying it. There was no advise here, just if you can't afford it pay it anyways? Not helpful 😔

[dyrgpwj]

Okay sir the lender does not tell you everything when you get a loan for that car don't they must divide the insurance company that you want to work with the finest people don't tell you that 15USC1605 but it protects the lender what us it all comes what's the definition of a finance charge

[csk_]

Had a car crashed it took another one out the lot 2018 kia forte APR was 23% im paying 20 thousand for a fcking kia forte 2018 payments are 600 a month its crazy cant afford it leaving me broke

[jonathancordova]

Didn’t even answer the damn question 😒

[Kush]

Kind of a bad video. No... what to do or what ifs?