I can't afford my car payments anymore, what's the best solution without ruining my credit?

Question

I can't afford my car payments anymore, what's the best solution without ruining my credit?

Answer 1

Definately sell it, if you still need a car, you can get like a Hyundai Accent '01-'02 with low miles for less than $3,000.

Answer 2

sell it and take the bus

Answer 3

i've seen some people who put their car up for sale as "Take Over Payment".

You may not get any money out of the deal, but you will save your credit.

Answer 4

Hard to say without knowing more about the car and what you owe.  Only option is to find a buyer willing to take over the payments or buy the car for what you owe.  If you owe more than the car is worth, you can't do much.  If you have had the car for a while, you could try refinancing to lower the payments.

Answer 5

Get a better job or a second job so you can afford the payments. You signed a contract.

Answer 6

Why not share the ownership of your car with someone who needs it and ask him / her in helping you pay off the monthly payments?

I feel this is a better option to outright selling the car (unless that's what you want). By sharing the loan burden with another person, you can take care of the monthly payment, save your credit and still co-own the car.

Answer 7

sell the car for at least what you owe.

Answer 8

Get another job, or find a wealthier b/friend!!!  You van always downsize, and trade it in for a pre-owned model...You will need a liitle cash to put down.

Answer 9

Figure out what changed to make it where you suddenly can't afford the payments any more, and do something to put it back the way it was so you can.  That's the best solution.