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Can't Afford Car Cabot AR

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.

Little Rock, AR
First Security Bank
(501) 941-2265
205 W Pine St
Cabot, AR
Uncle John's Pawn & Loan
(479) 649-7296
5324 Towson Ave
Fort Smith, AR
First Security Bank
(501) 796-8600
1137 Main St
Vilonia, AR
Farm Credit Servs of Western Ar Fl
(479) 675-3439
Booneville, AR
Thrifty Car Sales
(479) 636-5050
1810 So 8Th Street (Hwy 71B)
Rogers, AR
Regions Bank
(501) 843-3529
106 S 2nd St
Cabot, AR
Farm Credit Services of Western Arkansas
(479) 963-2841
Highway 22 W
Paris, AR
Delta Trust & Bank
(870) 473-2211
2826 Highway 165 S
Wilmot, AR
First National Bank
(501) 760-6002
618 Blakely Dam Rd
Mountain Pine, AR

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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