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how do i return a financed car, im paying it off until i own it. what
This is a discussion on how do i return a financed car, im paying it off until i own it. what within the Credit forums, part of the Main Category category; legal problems do i get if i return it? im backpackkng and i cant afford to have a car with ...
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06-13-2008, 09:40 PM
| #1 |
| Junior Member Join Date: Jun 2008
Posts: 1
| legal problems do i get if i return it? im backpackkng and i cant afford to have a car with me. im paying weekly until i pay off the entire car, in about a year a half. if i just return it, what problems am i going to come across? need help with this one quick, if anyone can. |
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06-14-2008, 03:50 AM
| #4 |
| Junior Member Join Date: Jun 2008
Posts: 11
|  If you are buying the car, then you own it. The issue is the difference between the value of the car and the amount of your outstanding loan balance. If what the car can be sold for is less than what you owe, the lender could take action against you. It could also adversely affect your credit. Is there any way you can sell it quickly for what you owe? This would be the simplest solution, since the buyer would pay off your loan and everyone would be happy. Good luck! |
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