Help me get rid of this car!!

[jsxr14s]

Please..

Basically I'm upside-down on a used car loan I received to buy my car. It was a private sale. The engine on the car is not working (bent valves, hole in the piston, the usual...) but I still owe the bank over 3,000. The car is definitely not worth that much now. The body is in great condition, no accidents, clean title.
I can't sell privately because the bank has a lien on the title. I don't want this damn car anymore! Any ideas?

[Fred Allen Burge]

Your best bet in any situation is to dig yourself out which for you means fix or replace the engine and sell the car for hopefully what you owe, then chalk it all up as a learning experience and do what I do - NEVER get a loan for a car, period.

[tqstarburst]

Um,fix it?

[ericcastro]

waht kind of car? just curious, cant help ya man.

[soreballz]

Set it on fire and file an insurance claim.


I'm kidding. Don't do that. Fix it, sell it, problem solved.

[WanganRunner]

fix fix fix derp derp

Or just be fucked. Whichever.

[jsxr14s]

It's a 99' A4. Yeah, fixing it sounds like my best option. But I'm just want to get rid of this pos already

[Phlip]

Another option is to make sure to not fall behind on payments and part it out to pay it off.
But that is not guaranteed money, so just an idea.

[DS562]

^ true, but it will get him closer to paying off the bank than he is by asking us for help.
it'll take some time but with careful pricing, you can pay them off with a little cash left over.

[blingbling]

Set it on fire and file an insurance claim.


I'm kidding. Don't do that. Fix it, sell it, problem solved.

Haha +1

But its probably only got liability on it.

[Speed Junky]

NEVER get a loan for a car, period.

The truth.

[silverarrow27]

Haha +1

But its probably only got liability on it.

To my knowledge, any car that has a loan on it still has to have full coverage insurance.

[blingbling]

< anti loan fanatic displays ignorance

I guess I was under the impression that it wasn't an auto loan seeing how the vehicle wasn't running. If wouldnt have been skim reading I would have noticed the words USED CAR LOAN clearly stated in the first sentence haha :p

[jsxr14s]

You're right silverarrow
Thanks for all the reasonable alternative options from those of you who actually gave decent input. It's appreciated. I'll keep researching on other options. A friend at Honda said they may even do a blind trade, and they'll pay off the bank, and whatever the extra was they they paid above the value would just be added onto the car that I get from them

[mrchomponthis]

If you are intersted in a great euro shop to give you a quote shoot me a pm

[jsxr14s]

^ i sent you a pm. hit me back

[Fred Allen Burge]

You're right silverarrow
A friend at Honda said they may even do a blind trade, and they'll pay off the bank, and whatever the extra was they they paid above the value would just be added onto the car that I get from them


Please don't go that route, seriously it's a very very bad little sales tactic all the car lots are doing. It just immediately puts you upside down on the next car, you instantly own more on it than it's worth and the cycle just starts all over again. I hate to see it happen and it's a big problem in my area for sure.

[simmode1]

A friend at Honda said they may even do a blind trade, and they'll pay off the bank, and whatever the extra was they they paid above the value would just be added onto the car that I get from them
Bro, no.... whoever suggested that blind trade is NOT a friend. They are trying to make a sale off you & stick it in your butt. You'll get ripped off on whatever rate they sell you the newer car plus the 3g's you owe on the other car. Welcome to SUPER Upside down land.

This is why I don't believe in car notes. Paying for repairs at the same time as making your monthly payments too? Hell naw. I like the part out idea. Get rid of that hunk of shit, hustle hard and buy yourself a cash car down at the public auto auction or something.

[TheWolf]

You're right silverarrow
Thanks for all the reasonable alternative options from those of you who actually gave decent input. It's appreciated. I'll keep researching on other options. A friend at Honda said they may even do a blind trade, and they'll pay off the bank, and whatever the extra was they they paid above the value would just be added onto the car that I get from them

HAHAHAHHAHAHAHAHAHA

You got screwed in the first car loan.. you want out.. so the way out is to get another used car loan that you'll be upside down on... :goyou:

NEWSFLASH. You can't borrow your way out of debt.

What you need is about 3 months of asskicking sweat and hard work at a second job. Save up some cash and buy a used cheap car you want.

[jsxr14s]

fred and simmode i agree.
it is stupid to get myself into more trouble. it was just someone who presented an idea and found me at one of my weaker moment. definitely not going that route. the best thing it sounds like is to either fix the pos, part it out, and just get rid of the thing with little debt as possible

[sentiumprogram]

2 simple and obvious answers to your question:

Either fix it, then sell it
or just pay it off.

There's no magical trick getting out of debt.

It doesnt pay off to live above your means by taking a loan.

If you really need advice, here's mine: (assuming you have a job)
WOrk your ass off and earn as much money as you can.
Cut your spending and re-prioritize where you're spending your money and redirect your earnings towards paying off your debts.
Once you pay it all off, enjoy life as a debt free person.


Next time try not to buy another car unless you have the money for it :picardfp:

[S14DB]

It's a 99' A4. Yeah, fixing it sounds like my best option. But I'm just want to get rid of this pos already

1.8T? Just get a used motor and swap it in.

You are already upside down on it. May as well get it to the point where you can use it.