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Can't Afford Car Fayetteville 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.

Thrifty Car Sales
(479) 636-5050
1810 So 8Th Street (Hwy 71B)
Rogers, AR
 
Thrifty Car Sales
(479) 636-5050
1810 So 8Th Street (Hwy 71B)
Rogers, AR
 
First Western Bank
(479) 695-1100
1676 E Joyce Blvd
Fayetteville, AR
 
Bank of America
(479) 521-3692
2320 W 6th St
Fayetteville, AR
 
Bank of America Banking Centers
(479) 521-3690
1061 E Joyce Blvd
Fayetteville, AR
 
AutoLoansInArkansas.Com
Little Rock, AR
 
Arkansas Mortgage Company
(479) 251-9797
2592 N Gregg Ave
Fayetteville, AR
 
Bank of America
(479) 521-3691
1500 N College Ave
Fayetteville, AR
 
Bank of America Banking Centers
(479) 521-3691
1500 N College Ave
Fayetteville, AR
 
Bank of America
(479) 521-3691
1500 N College Ave
Fayetteville, 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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