$10,000 Upside Down On My Car!

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[lashandaeller]

Praise be to God that I never have to deal with these shady car lots. I sympathize with her!

[garretthegun]

I'm the biggest sucker when it comes to buying cars! I have the worst situation. I owe $30k and the car trade in value is $11k!!! Only thing on my side is the low interest at 3% fixed. Wished I wasn't in this situation:( I'm at fault as much as the dealership for being a sucker for rolling the negatives over

[freedomworks]

Ever wonder why they won’t teach finance in public school systems ?

[louf]

Well her credit already messed up so just get it repoed.

[viyau]

You can cancel the warranty separately. But it will have to wait to get the check. Some companies will have you go to the dealer track down the salesman so he can send a cancellation then you get a check. Don’t get those warranties Personally i would stop making payments and keep the car until they come for the repo. The bank will not negotiate a lower interest rate or cut you any breaks. Save your money during the months of not paying and get a 2-3 thousand dollar car. You will get a judgement against you. Bit that will not be immediate. If your credit sucks anyway who cares. Don’t work a second job to pay for a car. If you have to file bankruptcy later to avoid the creditors then do it.

[Ineedpeace]

My car loan: Original price 19, 677. Finance 17.something % added on = $12, 335. Which brings total cost of my car to $32, 012. Bought a brand new Kia Soul 2015 in 2014. Payoff now in 2017 is at 15, 099. Without Payoff I will owe 20, 025. My salary per year? 26, 332. For 3 years I've paid nothing but interest. Didn't put a dent in the original price tag. The bank told me that I can do an Option Rewrite because they will not refinance it. If approved my pymts will be lowered and the loan term increased. What other choice do I have? No I didn't look at the details, I just signed the papers and the man who gave me the loan didn't even look in my face while talking to me and of course he didn't go into detail the way I did here. Live & learn.

[citygurl]

I cancelled my warranty the day after I bought my car. Best decision I made!!

[harris]

Man Texas Carlots are predatory lending on people with low credit score

[coocoo]

I'm in the same situation. I'm upside down on a car. Kbb value is 2500 and I owe 13k for it. I'm pretty close to have the amount of money to pay off the car. Couple thousand off still. My car has the GAP INSURANCE WHICH ISNT STATE REQUIRED. If I cancel that. Can I demand a refund from them and transfer all that money I've already paid for that gap insurance to my car loan?

[carysa]

I need help! I have a car loan of 13, 600 and it’s worth between 10, 000-12, 900 please help what I should do? Sell and pay difference or pay it off

[TheRamseyShow]

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