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Discussion Starter #1
how if possible would it be to get out of a car loan with out damaging my credit... owe 13,500ish worth 11,500ish ideas?
 

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I think the only way to get out of it without damaging your credit is to sell it and pay the difference on the loan. :(
 

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Yeah - if by 'get out of it' you mean not paying what you legally owe, it's not gonna happen. :(
 

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Discussion Starter #4
No I full expect to pay what I owe just wondering if u guys have any other Ideas another thought was get a smaller loan pay it down and sell the car for what it's worth
 

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No I full expect to pay what I owe just wondering if u guys have any other Ideas another thought was get a smaller loan pay it down and sell the car for what it's worth
Realizing of course, that if it dosen't sell for what it's "worth" then you'll have 2 payments. Not trying to be a smart a$$...just that IF it dosen't you could be in worse off shape. It's only worth $11,500 if someone is willing to pay $11,500.
 

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How about refinancing the loan? You won't "get out of it", but it could make your payment smaller.

Or sell it and pay the difference to the loan company.
 

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Assuming you don't need to replace this vehicle with another one, you can get a personal loan from a credit union and use that money to pay the difference bet'n what you sell it for and the outstanding balance.

In a few months, you should be out of the personal loan and car loan free.
 

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Assuming you don't need to replace this vehicle with another one, you can get a personal loan from a credit union and use that money to pay the difference bet'n what you sell it for and the outstanding balance.

In a few months, you should be out of the personal loan and car loan free.
And if you do need another vehicle, borrow a LITTLE more - about $1000 or so, and buy a "get me from point a to b beater" vehicle as well as paying off the bigger loan. You want to end up with much much less debt in the end, so if you owe 13 and its worth 11 borrow 3-4 TOPS, sell the old, buy a replacement for under 2 (ideally around 1) and you will be out of the old loan with no credit damage.
 
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