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TDO
10-06-2007, 01:32 PM
I am trying to find out my options on getting out of a car loan. At this time I can no longer afford my Elantra. I have already done an extension but due to legal(read lawyer fees etc) dealings in my life right now I have 0$ for quite some time.

I know that if they repo the vehicle they can still come after me for the loan yes?
If I sell the vehicle there is no way that I can sell it for what I owe so I will still be down several grand. Since that is the case I wouldnt be able to transfer the title while I still owe on it correct?

I am currently getting cockblocked by the loan company and I have read the contract terms. There is nothing stating anything about nullifying the contract. I would love to be able to make the payments as I am usually always on time with all my payments but due to recent stupidity on my part things are unraveling quite quickly. If anyone has any ideas or suggestions for me I would appreciate it.

TDO
evan938
10-06-2007, 02:01 PM
yeah, if they repo it theyre going to sell it at auction to the highest bidder. if thats only 2g's and you owe 10, sorry about your luck, chuck.

if its financed through ford motor credit company, you'll probably have someone from my old job calling you to collect on the debt. lol

idk. id see if you can find some friends or family to help you out and cover the minimum payments for the time being and pay them back on some better terms once you get your head above water
HeadOfMax
10-06-2007, 04:29 PM
total it.....
evan938
10-06-2007, 05:29 PM
thats an option, just dont get hurt while attempting it
CornbreadXD
10-06-2007, 07:08 PM
what would happen if it was stolen? like if you left the keys in it w/ the windows down at 2am on a side street?
getfuzzd
10-06-2007, 07:17 PM
what would happen if it was stolen? like if you left the keys in it w/ the windows down at 2am on a side street?

for the insurance to pay on it, if it was recovered in reasonable condition it would have to show some sort of forced entry. i.e. doors pryed or window broken...
Munky
10-06-2007, 07:17 PM
Ask the mafia for help. They can do anything.
rckozma
10-06-2007, 08:45 PM
for the insurance to pay on it, if it was recovered in reasonable condition it would have to show some sort of forced entry. i.e. doors pryed or window broken...

Well he could always not roll down the window but break it out. If he was going to do that, I suggest making a third key so when they ask for both of his keys he would have them.
evan938
10-06-2007, 09:46 PM
i cant believe we're giving someone suggestions on how to possibly defraud an insurance company to get out of an auto loan

this is great.
KeWLKaT
10-07-2007, 03:33 AM
i cant believe we're giving someone suggestions on how to possibly defraud an insurance company to get out of an auto loan

this is great.

Hell yeah man EXD RULES :bowdown:
SilverElantra
10-07-2007, 05:40 AM
i hope none of them own an elantra or belong to this forum. then he would be really screwed.
saturn
10-07-2007, 07:56 AM
see if you can go to another car dealer and get them to buy it

how much do you owe on it? what was the original sale price? how much have you put towards payments?

it's possible to get a $1,000 car (totally ****ty beater) and have a new dealer buy your car and pay it off and sell it for a few thousand profit.

better than getting someone to steal it I guess.