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Can't Afford Car Albuquerque NM

If you can't make car payments and in danger of having your car repossessed, you might have some options. Learn what you can do to save your car and your credit.

Santa Fe, NM
Bank of America
(505) 282-2456
2801 Eubank Blvd NE Ste J
Albuquerque, NM
Ready Money
(505) 831-6200
3301 Coors Rd Unit
Albuquerque, NM
E-Z Payday Loans
(505) 352-5555
4410 Central Ave SW
Albuquerque, NM
New Mexico Title Loans
(505) 833-1040
5700 Central Ave SW
Albuquerque, NM
Best Choice Mortgage South
(505) 873-4483
3765 Isleta Blvd SW
Albuquerque, NM
American Cash Advance
(505) 348-0055
2201 San Pedro Dr NE
Albuquerque, NM
Bank of America
(505) 839-2130
2601 Coors Blvd NW
Albuquerque, NM
Ace Cash Express
(505) 296-3445
417 Tramway Blvd NE
Albuquerque, NM
Courtesy Loans
(505) 872-2274
3145 San Mateo Blvd NE
Albuquerque, NM

Can't Afford Car

In a tough economy when jobs are being lost and finances are tight, it is often a struggle to make car payments. Many people find themselves in a situation in which they are behind on car payments and can no longer afford their car — or can't afford payments to buy another car (see ).

Cars are being repossessed and returned to banks and finance companies at an alarming rate. Even when people can no longer make payments and voluntarily return their cars, they find it doesn't solve their problems. In fact, it often makes the problem worse. Problems are especially acute for people with upside down loans – they owe more than their car is worth.

If you arrived at this page because you are looking for repossessed cars for sale or auction, see our article, .

To stop making payments on a car loan, or having missed a series of payments, puts the car loan in "default." The definition of "default" can vary between lenders, but it is always defined in the loan contract. It defines the conditions under which a loan goes into default and what can happen as a result.

Let's take a look at the problem and examine some possible solutions.

Refinancing your car loan or lease
Many people feel that if they could just get a little lower monthly payment, they could keep their car and continue paying off their loan or lease. One way, they feel, is to refinance their loan or lease. It seems to work with home mortgages, so why...

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