topic Upside down car loan in Debt management

Upside down car loan

ErisaFirehawk — Wed, 27 Feb 2019 18:21:00 GMT

I'm quite upside down in my car loan. I still owe about $7.5k and the car is only worth about $3k. I am bringing home almost half what I was when I bought the car. What exactly are my options? I just can't afford this payment.

Re: Upside down car loan

NCperson — Wed, 27 Feb 2019 18:33:41 GMT

call the lender and discuss your predicament with them and see if they can work something out.

Re: Upside down car loan

jlohani — Tue, 09 Apr 2019 18:20:36 GMT

Hi there - I know your question was a bit ago, but I wanted to let you know it inspired a blog post to go into more depth on what to do in this situation. It published today and you can find it here:

https://blog.mint.com/consumer-iq/what-to-do-when-your-car-loan-is-higher-than-the-value-of-the-car/

I hope the article is useful to you!

Re: Upside down car loan

Darnell — Sun, 14 Apr 2019 02:25:35 GMT

Csr