Apr
16
How do i get out of a car loan, can i get a cheaper car?
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I had a car payment of 230 then me and my husband were doing really good financially and we went and got a new car. Now our payments are 450 and our insurance is 200 a month, we are having trouble paying our bills now because my husabnd has been laid off and my pay has been cut by 10% so I could keep my job. I think we would be able to make it if we had the 230 car payments again but we owe way more than it is worth. What can I do?
Sell and Rent Back
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2 Comments
April 6th, 2009 at 6:19 pm
You’re stuck with the payments or you can sell the car and come up with the cash shortfall.
April 9th, 2009 at 11:15 pm
You will have to trade it in and pay the difference which they might be able to add to the new car loan.