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Re: What to do when you OWE much more than its worth..
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Posted by Rick D [Email] (more from Rick D) on Thu, 29 Dec 2005 10:37:07 Share Post by Email
In Reply to: What to do when you OWE much more than its worth.., AzureBlue, Wed, 28 Dec 2005 19:39:16
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If it's any help, your situation is shared by everybody who leaves the dealership with a car loan greater than, say, 75%.

The easiest way out of your situation is to trade it in on a new car, meaning you'll pay top dollar on your new ride and be in the exact situation you're in already.

You probably already know that unless you can get someone to take over payments (which is at the lender's discretion), you're stuck paying off the loan balance to sell your Saab, meaning cash out of your pocket.

Perhaps you can re-fi the balance under better rates than you're paying at present?

--Rick

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