If i own a car , and cannot afford the payments what's the best thing to do?

Question

If i own a car , and cannot afford the payments what's the best thing to do?

Answer 1

The only thing to do is to sell the car for as much as you can and pay the loan company that money.  Then you will have to pay the difference between what you got for the car and what you still owe. Call them and perhaps they will work out a payment plan with you for the difference.

Answer 2

See if you can borrow the money from someone to help you out.

If that is not an option, you may want to consider selling the car and using the money to pay off whatever is left owing. If you have any money left over you can always look into getting a cheaper car with smaller payments that you can afford.

Answer 3

You have two options:

1. Sell the car and if there's a deficiency

     balance, get a loan or borrow from a

     relative to pay it off.

2. File for bankruptcy and just walk away

Answer 4

sell it for the amount owed and pay it off