Automotive disposal
What is the best way to off-load a car that you owe $3000 over blue book on? Just asking because I feel like eliminating some of my debts.
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Sell it to someone with way too much money.[:D] 0 -
put a can of gas in it and drive it off a cliff 0 -
Sucker one of those tailgating tractor tailer rigs into totaling it by using the E brake to slow down quickly in front of it. Buckle up good though![:D]
just kidding.
Could leave leave it parked with a spare key with a big ol highly visible key chain in the ignition and the windows down in the "right" area!
Could get caught and become a criminal too!
You are "up the creek" "turned over" and stuck with it. sorry.
Allen0 -
Give it to the soon to be ex?
Don0 -
I hope most of these suggestions are in jest.
If something were to happen to this car to cause a total loss, the insurance company is going to pay the lienholder what the car is worth. You will still owe the lienholder the difference.
If it is a good car and you like it, drive your money out of it.
If not, sell it and be prepared to write a check to the lienholder, over and above what you collected from the buyer, to secure the title.
There is no way to make this car go away that won't cost you money.
Never borrow money to buy something that depreciates.0 -
Don't give it back to the lender. They will sell it at auction and you will owe way more than the $3k over book. Sell it on your own for what you can, try to negotiate with the lender for payments on the deficiency. If nothing can be worked out, crack a credit card for the balance and chalk it up to a life lesson. 0 -
quote:Don't give it back to the lender. They will sell it at auction and you will owe way more than the $3k over book. Sell it on your own for what you can, try to negotiate with the lender for payments on the deficiency. If nothing can be worked out, crack a credit card for the balance and chalk it up to a life lesson.
Agreed, except for the credit card part.
I am just stubborn, I guess. If I liked the car and it wasn't costing me a lot in repairs, I would probably drive my $3G out of it rather than have to write a check to dispose of it.
DO NOT allow a repo, voluntary or not. That $3G will become $7G in a hurry, and you will still pay it.0 -
Yet another reason not to buy a brand new car...........among many others.
Merc0 -
"Never borrow money to buy something that depreciates"
Amen Wish more people would realize that.Then we would have more milionares around in the world.
Another good one is to buy a deadcheap old car or a classic.Then buy another same model for cheap spareparts.
sideeffect is you turn out to be a pretty good mechanic to.[;)]0 -
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Thanks to all ....0 -
quote:Originally posted by nunn
If something were to happen to this car to cause a total loss, the insurance company is going to pay the lienholder what the car is worth. You will still owe the lienholder the difference.
Not if you were smart enough to buy dirt cheap GAP insurance on the car when you bought it, the GAP insurance pays off the difference.0 -
quote:Originally posted by P228
quote:Originally posted by nunn
If something were to happen to this car to cause a total loss, the insurance company is going to pay the lienholder what the car is worth. You will still owe the lienholder the difference.
Not if you were smart enough to buy dirt cheap GAP insurance on the car when you bought it, the GAP insurance pays off the difference.
Something like gap insurance is totally retarded. Don't get yourself in that position in the first place.
BTW this thread is over two years old. I think Cat still has the car.0 -
quote:Originally posted by Horse Plains Drifter
quote:Originally posted by P228
quote:Originally posted by nunn
If something were to happen to this car to cause a total loss, the insurance company is going to pay the lienholder what the car is worth. You will still owe the lienholder the difference.
Not if you were smart enough to buy dirt cheap GAP insurance on the car when you bought it, the GAP insurance pays off the difference.
Something like gap insurance is totally retarded. Don't get yourself in that position in the first place.
BTW this thread is over two years old. I think Cat still has the car.
GAP insurance is not retarded. If you buy a new car, it drops in value the minute your drive it off the lot. If it is totaled a year after you buy it, it is worth a lot less than what you paid for it. GAP insurance is cheap and pays the difference. I have had to use it twice, when I had other people hit and total 2 of my nearly new cars. Then the GAP insurer goes after them to collect.0 -
Pay cash and never have this problem again. If I cannot afford something I save until I can pay cash for it. 0 -
The day I bought my car I was in a similar boat. I mean anyone who finances is. You end up paying $20,000 for a $16,000 car after tax, fees, and interest.
Either you accept that as part of the process or you don't buy the car.
You did buy the car. You have a choice. Keep paying on it and keep it, or sell it and keep paying on it.
FWIW, I owe $9300 yet on my 07 Mustang, the example I referenced above with regards to cost. It MIGHT be worth that yet but if so, just because my payments finally caught up and overtook the extra $4k in interest and such that I had to pay.0 -
quote:Originally posted by kallwilson
why is this guys account still active?0
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