What To Do if You Can't Make Your Car Payment


Can't make your monthly car payment? Edmunds asks the experts what to do.
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Can't make your monthly car payment? Edmunds asks the experts what to do.
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When I realized a made a terrible mistake it was too late.It was high pressure and not enough info on the vehicle.
The car was selling for $14,000 however I still owed $12,000 on my old car.
So this became a Upside Down Loan. With 12,000 in a hole already. the dealer put all of this negative equity
into the deal or mistake. Also I found this car that was used that I purchased was in two car accidents after the fact.
What can I do to get out of this? I would love to give the car up and get something more in my price range. At first I was only suppose to pay $300 a month now I am paying $450 a month.\
Does anyone have a any suggestions or should I seek out a attorney?
Probably what happened is that this was a "spot delivery" deal where the dealer basically is just guessing what your interest rate will be--he gives you the car, hopes that he's right on the rate, but if not, many customers don't want to bring the car back because they've already bragged about it, showed it to their family, etc. There should be, among your papers, a "Spot Delivery" document that explains all this.
17% are you kidding? Now I have been let go from my $10 an hour job! My only hope is I get ran over by a semi truck before it gets REPOED!!!.
What is the best course of action I should take?