Wednesday, May 26, 2010

Is there any good way of getting out of an upside-down auto loan?

You havent said that you cant afford your car payments so im going to suggest 2 things to you. If you are just looking for a new car that you wont be so upside down on, you need to find the car, NO MATTER THE MAKE OR MODEL, that has the most rebates on it to bury your negative equity. I know at one time it was the dodge ram with about 5k in rebates. The chevy suburban also had about 10K in rebates. From now on if you have good credit dont buy.......... lease........



Or put your full coverage insurance to use and drive your car off of a cliff.



Is there any good way of getting out of an upside-down auto loan?

try early pay off



Is there any good way of getting out of an upside-down auto loan?

You get a different loan and pay it off.



Is there any good way of getting out of an upside-down auto loan?

If you are upside down on a loan, you need to sell. You need to cut your losses and try to find a cheap, reliable vehicle. Sell via private party rather than trade-in as you will get more out of your vehicle. Try http://www.kbb.com/ for the estimate value of your vehicle and go to http://www.cars.com/ to take possibly sell the vehicle. Next time, try to buy a car that retains it's value. Honda's are great vehicles that generally do this.

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