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Wednesday, March 17, 2010

How do I get out of an Auto Loan?

I have a loan with my ex. She is hounding me to get her off it. I can't refinance without a co-signor and no one will help. I can't sell it because I need a car and can't pay the difference. Any auto salesmen out there who can give me some advice? Pretty much any option with me selling, paying, getting another loan, etc... is not an option. Will any dealers take it and trade it towards a different car. I found it's worth $6500 KBB for private sale($7500 at most) but would get up to $9500 at a dealer. I owe $8500.

How do I get out of an Auto Loan?
I think your numbers are not in order since when will a dealer going to give you more than wholesale which is less than you can sell it for.So your up side down .Any ways you %26amp; your X signed a loan together %26amp; both names are on the title who is paying for it ?If you than you have to have her sign the papers when you sell it or trade it or anything it she has to agree.And if she wants $ than there a issue.But as long as your paying for it you don't have to sell it. But she has just as much right to the car as you so it can disppear %26amp; you don't have a car.So you have some real issues.Since you can't get a loan on your own.Have her agree that you will pay for the car.an keep it till you can refiance it. would have to get this in writing legally done.So she can't come an take the car.Maybe some 1 has a better idea for you.
Reply:yes you can expect 5000 for a trade in value(if kbb @6500) and you should find a car for the same if not alittle more and negotiate a even trade. i have done this in the past. i sold cars at a toyota dealership for 5 years. email me with any specific questions.
Reply:Tell your ex to bite you. Just like the last person said, you are paying for the loan and it is your car too. If you are not in a position to trade it, sell it or refinance it, then don't worry about it. The best thing to do is get in the divorce decree that you will be responsible for the car and you will be the one who retains it. Don't worry about the ex's wishes at this point because I promise she is not worried about you and what you need. Stop trying to be nice. If she persists say, "do you hear that? sounds like thunder" and slam the phone down!

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