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Can't Afford Car Gallup 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
First Payday Loans
(505) 863-4300
3314 E Historic Highway 66
Gallup, NM
E-Z Loan
(505) 863-4336
1721 S 2nd St
Gallup, NM
Your Credit Inc
(505) 863-5100
824 Highway 491
Gallup, NM
Wells Fargo Financial
(505) 863-3881
915 Metro Ave
Gallup, NM
(505) 722-6333
Gallup, NM
Star Loans of New Mexico
(505) 726-0170
3312 E Historic Highway 66
Gallup, NM
S-W Tax Loans
(505) 863-2323
1100 Highway 491
Gallup, NM
Pyramid Capital Management
(505) 722-9700
510 N 3rd St
Gallup, NM
(505) 722-5306
1746 W Maloney Ave
Gallup, 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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