We bought a new car and I could not trade my van in, I have a loan on my van. I have had it in the papers and seattle craigslist for two months, It is great cond. But no one wants a minivan. I can’t afford another payment on it, Should I give it back to the bank, I think it will hurt my credit, and we are going to try to buy a house soon, what do I do?? Help….
Hello, you can’t just “give it back to the bank” if they take it back, they sell it, and deduct that amount of what you owe, but you will still owe the balance and still have to make payments to pay off that difference.
And why did you buy a new car untilll the other one was sold?
And why did you not trade it in, I will assume that you owe more on it, than it is worth ??
Talk to the bank, they may allow you to sell it for less than you owe and let you leave the balance on a personal loan to be paid off.
Next ???? if you can’t afford to make a van payment you have no buisness thinking about buying a house at this point untill you get your budge under control.
http://www.caretotrade.com Care to Trade
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