Need emergency cash? 100% Online Payday Loan. No Fax! Bad Credit OK.
Receive a Payday cash advance. Just follow these 3 exceptionally easy steps and get an amount up to $1500 within 1 day, when qualifications met.
Answers
Need advice for a friend-I thought I would ask here since I myself have never been in this situation. He joined the army few years back-had NO credit @ the time. A car dealer on base took advantage of him (and many others),sold him a car, told him to come back since his credit didn’t approve him for the one he drove away with, and they put him in another car with a MASSIVE interest rate & he was promptly upside down in the car. For over two years, he never made one late payment-but when he discharged from the army-he had to go on unemployment till he recouped from back surgery. During that time he fell behind in payments & has been struggling ever since. He can’t get re-financed since he is already behind in payments, (the finance places said he can’t have made a late payment in past 6 months), & his credit score is low. He owes around 13k on the car, & its worth only $6k. So nobody will refinance until he stays current for 6 mnths-but he can’t get caught up & DONT want repo!
is he back to work? if so, he needs to show some stability in his employment, then he will need to find a car with a lot of factory rebates usually a high priced car to hide that kind of neg equity. if your last option is to repo. don't get to discouraged. there are banks that will buy someone with a repo, not multiple repos, but one isn't as bad as people let on, bad things happen to good people so don't be suckered into trying to hold onto something that isn't gonna get you anywhere anyway. repo it if you have no choice. yes you will have 7 + years of bad credit but you can get another loan from a reputable dealer right after the repo, look into a dealer that has Credit Acceptance Corp or Condor or Americredit or Capitol One, or Wells Fargo or CSP credit. you can also go through a credit union. he may be a member of the USAA credit union which is very liberal with auto loans.
don't be blue this happens all the time, which is where the dealers get the bad name from.
feel free to email me for more info on how to handle this situation!
www.carsavingsuk.com Do you want to change your car and settle-off your current loans. We can do it easily, a car finance loan that settles off ...
I owe 11,000 on my 2007 car that I bought new, it is worth only 8K to sell privately and 7K or less for trade in. Obviously I bought it from a crook of a car salesman while I had bad credit, big surprise. Well, my credit is much better now, but I'm unsure if I should just pay it down or sell it? Anyone with experience out there? I could use some advice.
Thanks!
I think I will run it into the ground. Thanks guys :-)
Auto finance is what I do for a living and there are only 3 ways out of being upside down.
1. Keep making the payments until your right side up or paid off.
2. Sell the vehicle and take out a personal loan to pay the balance.
3. Trade for something that will suck up the negative equity. Note this will raise you payment since the negative will have to be rolled into the new loan.
Most people choose number 3 even though they end up even more upside down then before.
And just so you will know you were not taken advantage of by a salesman, the banks have very strict guidelines as far as how much they will loan on vehicles. When you bought the vehicle it was worth what you paid for it or the lender would not have approved the loan in the first place.
I look at credit every day and most people are upside down due to the market, the fact that they financed for to long and did not make a large enough down payment.
My credit is bad as it is and I had a prior repossesion 3years ago, I don't need another! I tried contacting the creditor but the will not work with me at all. I have tried several other credit companies but none will take the loan. What can I do?? I'm trying to find more work but am limited due to military obligations, I'm needing to keep my credit as in order as possible so I wont loose a security clearence.
Sell it and make arrangements on the balance. Borrowing more money simply puts off the inevitable. Since you can't handle credit as evidenced by your prior repo, the best thing to do is have as little debt as possible.
as it is my hubby and i are paying almost 400 a month for a car that is only worth 9000. we still owe 12000. how can we get out of this so we can stop the bleeding?
Well there is no easy way really. I would suggest trying to refinance the loan, get something with a lower interest rate. Selling it is an option, but it wont really help you, if the value is less that what you owe. You will still have to come up with the difference in cash to pay that loan off.
Am assuming you own the car, ( not a lease) best thing might be to just keep it, you are using it right???
Sad thing is no matter what you do, you cant change the value of the car or how much you owe still.
Good luck
i owe 20000.00 and the car is worth 14000.00,and payment is 665 a month I need a cheaper payment......help please
There is really no way to reduce your payment, or sell the car at this point. Seeing as the payment is a problem with your income, what I would recommend (and I know this is going to be hard) is that you increase your income and put all that money towards paying the balance down. You may need to work a second job for a while!
Good luck!
I am in a VERY bad financial situation. I have a good job, make good enough money, but am struggling to pay off debt daily. I am in an upside down car loan, $8000 upside down. Not to mention I have 4 years left of payments and the car is falling apart. It is a VW so to fix it currently I need to put $1500 into it. If anything else breaks I am screwed.
I recently went to a car dealership and they suggested I surrender (repo) my car and use the $1500 I have to get a newer one that gets better gas milage and has a lower monthly payment. I would love to do this, so I can pay off my debt faster, but am terrified of having a repo on my record.
Basically I have 2 options.
1. Keep the car, fix it, pray nothing breaks, and pay off my debt in 4-6 years
2. Surrender the car, get a cheaper one, pay off my debt in 1-2 years.
If my debt is clean, and my payment history is good, including paying off the balance of the repo, how bad will that mark effect me and for how long?
I see an option number 3 as well.
Put the $1500 into fixing it and then sell it privately or trade it in on another vehicle.
I would not let them repo for 2 reasons...
1. It WILL affect your credit for 5-7 years.
2. If they repo they will sell at auction for whatever they can get for it. You will be liable for the difference and therefore they can take you to court and make you pay it anyway. Plus you have to pay for another car.
Option 1 is an option. Take it to a mechanic for a comprehensive report on what needs fixing. A mechanic would be cheaper and unbiased compared to a VW service centre. They may be able to use generic parts as well.
Either way, I would not let them repo it if you can help it.
Tough choice: credit card debt vs. down payment on a car loan CreditCards.com
I believe you would be better off in the long run using your $1,800 as a down payment on your car purchase. My rationale is that if for some reason you needed to sell your car, particularly early on in your loan term (reasons you may need to sell might include getting laid off from your job, a decrease in salary or some other interruption in your income) without a down payment, it is likely you would be upside down in your car loan. Upside down means you owe more on your loan than the car is worth. In a must-sell situation, you would then be in a bad financial situation, either having to continue to pay on a car loan when you no longer own the car or face repossession because you can no longer afford the loan payments -- both of which could be very expensive.
With a credit score of 680, you would qualify for a national average 48-month term loan on a new vehicle at 9.5 percent interest. If you increased your credit score to the next level or 690-719 range, the national average for a 48-month loan would be 7.5 percent. The lower rate would save you $906.46 in interest charges on a $20,000 loan over the life of the loan. I know you don't want to pay any more for your car loan than you need to, but I would rather you plan for the unexpected.
Upside down car loan in Alabama
Buying a house really takes a toll on your finances and subsequently on your credit rating. Thereafter wanting to buy a car could only mean hassles and hurdles in the absence of professional help. But as they say - every problem has its own solution. There are dedicated Upside down car loan providers who now make car loans accessible not only to people with bad credit rating, but also to those who cannot afford a down payment during the purchase. Hence the term ‘upside down’!
The Upside down car loan providers enable access to car loans in Alabama at very reasonable rates of interest. In fact the rates of interest are calculated only after assessing and analyzing individual cases separately. The in Alabama car loan program is not a one for all solution. The in house professionals take care to handle each case differently and come up with individual solutions. The Upside down car loan providers offer car loans for both, used or second hand cars and new cars.
The loans are designed within secured and unsecured loan options for people with bad or poor credit rating. The professionals cater to the auto loan needs by different social strata and despite bad credit conditions or credit scores. The loans come within a package that is like a hamper - free advice and suggestions for bad credit car loans and credit repair options. The in house professionals are dedicated to the designing of Upside down car loans to suit every individual budget.
These loan providers are known for high standards of integrity and solidarity. They are synonymous with trust and security and guarantee the safety of the information provided on the personal front. The Upside down car loan providers are accessible online and offline and they make it possible to handle the basic requirements from the comfort of home. Your dream of owning your own car is now a reality and only a click away!
These Upside down car loan in Alabama providers risk bad credit and study credit history provided by the credit bureaus to get the real picture. They offer free online calculators to help you do your own calculations and even give you the leverage to have a say in the rate of interest and tenure of the loan. By eliminating the initial down payment requirement that most other car finance companies stress on, the Upside down car loan providers give you a breather before you get your act together for repayment.
...News
Five Tips to Stimulate Your Wallet fox4kc.com- Feb 25, 2009
Five Tips to Stimulate Your Walletfox4kc.com, Kansas CityI could've helped them 90 days ago, or six months ago and now I can't get a loan for them," said Rich Fraser from Community Mortgage. Homes aren't the only expense that can be cut. If your car loan is more than eight percent, shop around for a quote- Feb 24, 2009
A Crisis Is Separating Eastern Europe’s Strong From Its WeakNew York Times, United StatesNow, the message emanating from Washington is to nationalize and to regulate. “This crisis has turned the world upside down,” he said. “People here who argue that open markets are the solution to everything are no longer being taken as seriously.”- Feb 25, 2009
Road Map for Financial RecoveryConde Nast Portfolio, NYThey could drill down and compare the FWPs in a way that would have been nearly impossible before. And what they saw was a nationwide crisis in the making—as adjustable-rate mortgage rates ballooned, countless home-owners would default on their loans,- Feb 14, 2009
Why are so many homeowners upside down?Macon Telegraph, GAThat’s when you might find yourself “upside down.” You owe more on the home than you can sell it for. Remember, all loans secured by the home must be paid off when the home is sold in order to provide clear title to the buyer. Upside down sellers find- Feb 24, 2009
Closing BellEconomic Times, IndiaShares of the company were down 0.62 per cent at Rs 16 on the NSE. 11:00 am: Hindustan Oil Exploration Co. Ltd has entered into a loan agreement with Eni Coordination Centre SA, Brussels (ECC) for availing a dollar denominated term loan by way of
