PLEASE READ!!! Owe A lot on my car, trying to sell, but offered a job in England?

Question

About 2 years ago, I purchased a car right after I graduated college. I have been on time with the payments also. Here is my problem... I was just offered a great job in England. At the present time, I owe much more on the car than it is actually worth. If I sell the car for a great price, I will still owe around $10,000, which I don;t have at the moment. I NEED ADVICE!!

Answer 1

Talk to your parents or other family member and see if they are willing to drive your car while you are in England and offer to split the payments with them.  If this job is so great you should be able to afford to continue half the car payments. It's risky since the car must stay in your name but I definitely would not surrender the car to the lender.  This is referred to as a voluntary repossession and it will count like a regular repossession.  This pretty much means forget about financing a car or just about anything else for a long while.  Just because you are in England doesn't mean your now ruined credit will not follow you.

Answer 2

Surrender the car to the lender.

Answer 3

Give it up.

Answer 4

Just give the car up, it's not worth paying an extra 10 grand.

Answer 5

You spent all that money on a college education... when in the UK you don't really need one to get a job. You should have done some research. You can even be a nurse with-out a college education here. But there you go, you must bone-idle.

Besides if you got a 'great' job you can pay that off easy but you get taxed on your earnings.

Answer 6

Can you say shipping container.  Maybe someone in the family can take over the notes.  Either way you lose your butt.

how great was that job?

How important is your credit to you.

You can always buy a car, but some things need a good credit report.

Thank God my putting down roots days are over.