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| *Loan,banking and credit>>>auto loan |
How do i get out of an auto loan? |
How do i get out of an auto loan? Sell the car and pay off the loan You can pay off the loan. That's probably the only way. well there are only two ways that i know of; #1 default, and #2 sell the car and pay it off. Pay it off. Find someone to take it. Countryguy P.S. If your 'upside down', you'll have to get a personal loan to cover balance. Definition: Upside down- Owe more than the car is worth. By paying it off you can stop paying on it and they will repo it. Wouldnt recomend it. Goes on your credit and they will resale your car and if it doesnt bring enough to pay off the loan you will still owe what is left.You can try to file bankruptcy. Or call the bank where you have the loan, and if you have something life changing that has happened to you like, loss of job, death in family, divorce, or illness, they can refinace the loan for you. Like if the car is only worth $5000 and you owe $7000 on it they will refiance it at $5000, rather then have you file bankruptcy and get they stuck with the car. Only other option is to sell the car and let someone take over the loan. You can transfer the loan at the bank. |
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