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should i let my car get repossessed?
6th July 2011
Heres my situation: i bought a 2002 chevy malibu almost 2 years ago. it has been problem after problem. originally i got financed at 25% (bad credit) for 4 years. i still owe 6K on the car and its only worth 1700. now the engine is shot. it will cost me a few thousand to replace it. i dont have the money. so do i let them repo it and pay repo fee+repairs for it to resell. or do i keep making my payments on a useless car? are there any other ways out of this? thanks
except that it doesnt run, so its not possible to crash it. besides, isnt that fraud or something?
A few years ago I purchased a car with a limited drivers privilege after a DUI. then a couple of months later I was stopped again by a cop and took me to jail for drinking and driving. He then towed my car. My case was dropped due to certain circumstances. I didn’t have enough money to get my car out of the towing yard and they said I needed a licence to get the car out. I called the bank cause they have the title. And they said there is nothing they can do, to just keep on paying the loan. So I’m still paying off a loan for a car I don’t have cause I don’t want bad credit. Is this right? Should I be doing this? or have I been had?




