i need to get rid of a financed car- ASAP...

[daraz143]

...how to do it? here is the thing... i'm in deep .... my uncle got me a car it's a 2003 saab convertible. He financed it for 19.000. As of today the balance on the car it's 17,000. How can i get rid of it... I want a new car... This car has 120,000 miles on bord. In the last 3 months i put another 3000 dollars on it because it brakes down. What can i do. He does not want to take it back. He dosen't want to pay for it. He says the car is mine and thats that. please help ASAP.

[Sensual Seduction]

Why would he finance a car with that many miles on it. Especially for the price he paid for it. What you can do is trade it in but chances are you are upside down. If the car is in your name then you are stuck with it unless you get someone to take over your payments. If you are to trade it in they will add the balance to your new car. This will cause you to be in a bigger whole.

[OSO]

I've been in the car business for a while now, selling Toyota's. About half the customers that walk into our showroom have the same problem you do. Your main problem is your '03 has twice as much miles on it as it should compared to an average driver. The average is 10,000 to 12,000 a year. Another thing all consumers need to consider when purchasing a new vehicle is the resale value. Toyota and Honda are the top 2 value holding vehicles. That being said the Toyota you walk into the dealership and buy, will only be worth half of it's original price in 3 yrs. even though you bought a car that leads the resale market. I'm sorry to tell you this but your Saab is only worth $8,000 to a dealer and maybe $12,000 to a private party. The only way to get out of this is with good credit and at least a $4,000 down payment. Don't let the numbers scare you, trust me you'll spend it either way on the service the Saab's gonna need. Start researching Edmunds.com and KBB.com 4 your car's trade in value. Research the vehicle you want to buy. and make sure you buy a car you like cuz you're probably gonna be in it for 6-7 years.

[rayne428]

Originally Posted by OSO

I've been in the car business for a while now, selling Toyota's. About half the customers that walk into our showroom have the same problem you do. Your main problem is your '03 has twice as much miles on it as it should compared to an average driver. The average is 10,000 to 12,000 a year. Another thing all consumers need to consider when purchasing a new vehicle is the resale value. Toyota and Honda are the top 2 value holding vehicles. That being said the Toyota you walk into the dealership and buy, will only be worth half of it's original price in 3 yrs. even though you bought a car that leads the resale market. I'm sorry to tell you this but your Saab is only worth $8,000 to a dealer and maybe $12,000 to a private party. The only way to get out of this is with good credit and at least a $4,000 down payment. Don't let the numbers scare you, trust me you'll spend it either way on the service the Saab's gonna need. Start researching Edmunds.com and KBB.com 4 your car's trade in value. Research the vehicle you want to buy. and make sure you buy a car you like cuz you're probably gonna be in it for 6-7 years.

lol its seems i have a problem for every thread on this forum but anyway i work for a car dealer too and i need to get rid of my car, i knnow if i get into something cheaper that iwill be able to have more money to pay these god forsaken hospital bills down but heres the thing, bad credit, do u know if because i work for them they can do something for me?

[rayne428]

ok i'm reading all these things and freaking out about my situation. I don't think that i can get out of this, i stated in a previous post on here that i work for a car dealer and i need to get rid of my current car, and OMG i was totally f**ked on the car deal, my dad did this for me and i guess he didn't know what i'm doing, now i'm upside down on the car with huge payments and no i don't have the money to pay the car off totally and i don't know what to do, is there any way out of this or no?

[chane]

Why do you need to get rid of your current car? Your only solution is to get in over your head more. They will add what you owe on to the price of your new car and your payment will be even higher. Your new car will lose a lot of it's value as soon as you drive it off the lot...

So, then you are basically paying almost double what you should be paying for it.

If you work for a car dealer, how did you get f**ked on the car deal?

You ought to know better. Car dealers are sleazy.

[rayne428]

Originally Posted by chane

Why do you need to get rid of your current car? Your only solution is to get in over your head more. They will add what you owe on to the price of your new car and your payment will be even higher. Your new car will lose a lot of it's value as soon as you drive it off the lot...

So, then you are basically paying almost double what you should be paying for it.

If you work for a car dealer, how did you get f**ked on the car deal?

You ought to know better. Car dealers are sleazy.

i wasnt working at one at the time but now i do