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Can't Afford Car Bay City MI

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.

AutoLoansInMichigan.com
(517) 580-0383
Lansing, MI
 
Automotive Credit Corporation
(800) 810-2202
26250 Northwestern Highway
Southfield, MI
 
getmeachevy.com
(888) 855-8832
Jackson, MI
 
Wolverine Auto Finance
(248) 688-0171
100 West Big Beaver Road
Troy, MI
 
Sawyers Chevrolet
(888) 462-3823
13200 Old US 27 South
DeWitt , MI
 
Reliable Auto Finance
(800) 373-9933
950 28 th Street SW Suite C PO Box 9700
Grand Rapids, MI
 
Lender To Lender Financing LLC
(586) 598-1634
27322 23 Mile Road Suite 5
Chesterfield, MI
 
JD Byrider
(231) 932-7905
1661 South Garfiled Avenue
Traverse City, MI
 
MichianaPreApproval LLC
(574) 370-1403
18711 Whispering Pines
White Pigeon, MI
 
Cars Trucks & More Inc
(518) 547-7000
861 E. Grand River
Howell, MI
 

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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