I Don T Want My Car Payment Anymore

Failing to make car payments never should be an option no matter your financial situation. If you canfind the blue book value and sell it and buy a chep car with that money and use the remaining.

What To Do If You Can T Make Your Car Payments Credit Com

If yours is the buyer will likely have to meet credit and income qualifications in order to officially take over the loan or lease.

I don t want my car payment anymore. In a lease transfer a new lessee assumes the car and the lease payments and youre released from any responsibility. I dont want the car i am financing anymore what should i do. Call the company you have the loan thru and see if you can pay it off in cash.

If you cant you have to come up with the difference in cash before you can sell it. If you have a good car loan with a low interest rate or even a good lease a buyer may be willing to take over your payments. Yes you can get out of a car lease without hurting your credit.

But after three months of missed payments and if you do not communicate. If you are sued and they get a judgment then you can have your wages and assets garnished. Your debt doesnt disappear just because you dont want the car.

Keep in mind that lenders dont want your car back and will usually only repossess it when they have exhausted other options. Question dont want my financed car anymore. Id take the lower financing deal since it lowers your monthly obligations even if it means you have to drive a white jeep suv as i dont consider that torture.

Explain the situation and if possible have a budget prepared that includes a dollar figure you can afford for a monthly payment. Talk with your lender not all car loans and leases are assumable. I just have a quick question.

So if your car is becoming a burden and you dont think you can make your next payment take a look at these options before its too late. If your situation is dire and you do not have the money to make a payment address it with a call to your lender. If they sue you and get a judgment they will want a lump sum payment but at that point you can.

Some people dont care about their credit and others do. Answered by a verified lawyer. I am rather new to this whole car financing thing and yes i did do some research on how the whole thing works.

The best option if this is the route you want to go is to sell the car privately pay off the difference of the loan and then acquire the. You dont want to let a car payment keep you from being able to get to work and earn a living. But what most dont know is.

If you fail to repay the money you borrowed for any reason the loan will go into default and then repossession. If you dont want your car anymore and you owe 23k you have to sell it for 23k. Some leases thought not all allow you to transfer the lease to a new signer.

The alternative way to end a lease.

How To Walk Away From An Auto Loan Or Lease