Hey Guys, I'm in sort of a dilema right now. I'm upside down on my car loan mainly because wells fargo offered to take additional credit card balances and tack them onto the loan. Here in lies the problem. I'm moving to NYC in January and will not need a car. Can I possible have the bank buy the car and I owe/make payments on the remaining balance? Or do I go to a dealership, have them do a payoff and I owe the remaining balance? any help is much appreciated! thanks!
Just buy off the car using a bank loan. Then sell the car and pay off the loan (or part of the loan). Don't try to deal with dealerships. They will cheat you out of your money.
I was told that if you try to sell it to the bank, then it is a 'voluntary repossession'? I guess I have to try to sell it to a dealer...
Get a personal loan (or transfar the balance to a CC) to cover your negative equity. Thats the cleanest, easiest way to do it with no damage to your credit.
