Comments on: The Car Dilemma http://www.moneycrashers.com/the-car-dilemma/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 15:49:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Erik Folgatehttp://www.moneycrashers.com/the-car-dilemma/#comment-21262 Erik Folgate Sun, 16 Jan 2011 23:49:11 +0000 http://moneycrashers.com/?p=125#comment-21262 Hey Paula, I wouldn't rely on a dealership to help you with your problem. They'll do something that benefits only them and not you, such as roll negative equity into a new loan, which is a REALLY bad deal, because then you start out even MORE upside down in another car. If you REALLY need to get out of it without paying down the loan, then you should try to sell the car and get a personal loan from a credit union to cover the difference that you still owe on the loan. Make sure you take out a little more than what you still owe so you can get yourself a $1k or $2k car. This way, you're still in debt, but it's a lot less than you originally started with. Hey Paula, I wouldn’t rely on a dealership to help you with your problem. They’ll do something that benefits only them and not you, such as roll negative equity into a new loan, which is a REALLY bad deal, because then you start out even MORE upside down in another car.

If you REALLY need to get out of it without paying down the loan, then you should try to sell the car and get a personal loan from a credit union to cover the difference that you still owe on the loan. Make sure you take out a little more than what you still owe so you can get yourself a $1k or $2k car. This way, you’re still in debt, but it’s a lot less than you originally started with.

]]> By: Paula Goodwinhttp://www.moneycrashers.com/the-car-dilemma/#comment-21158 Paula Goodwin Thu, 13 Jan 2011 14:06:50 +0000 http://moneycrashers.com/?p=125#comment-21158 I need to get out of a vechiele tha i am upside down in and need advice on what to do without the capital the dealers want . Is there any dealerships that specializes in my problem. I need to get out of a vechiele tha i am upside down in and need advice on what to do without the capital the dealers want . Is there any dealerships that specializes in my problem.

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