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Can't Afford Car Gig Harbor WA

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.

Bucky's Muffler, Radiator & Brakes
(253) 566-0747
6318 6th Ave
Tacoma, WA
 
Bucky's Muffler, Radiator & Brakes
(253) 627-8267
603 S Sprague Ave
Tacoma, WA
 
Kay Parks/Dan Meyer Auto Rebuild, Inc
(253) 272-0512
3102 S 12th St
Tacoma, WA
 
Alfa of Tacoma
(253) 572-2532
615 Saint Helens Ave
Tacoma, WA
 
Handan II, Inc
(253) 922-8280
1801 Alexander Ave
Tacoma, WA
 
Pacific Motor Co
(253) 572-7214
1408 Martin Luther King Jr Way
Tacoma, WA
 
WrapJax, LLC
(877) 309-9290
2305 S Wilkeson Ste B
Tacoma, WA
 
Shaub-Ellison Co., Inc
(253) 272-4119
1117 Broadway Plaza Ste 500
Tacoma, WA
 
Williams Oil Filter Service Co
(253) 627-8163
PO Box 2155
Tacoma, WA
 
Gene Pankey Motor Co., Inc
(253) 475-3165
7201 S Tacoma Way
Tacoma, WA
 

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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