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Can't Afford Car Mound MN

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.

AutoLoansInMinnesota.Com
St. Paul, MN
 
Tcf Bank
(320) 240-1211
1001 4th St SE Ste A
Saint Cloud, MN
 
Wells Fargo Bank Fa
(507) 374-6311
18 2nd St NE
Dodge Center, MN
 
Security State Bank of Marine
(651) 433-2255
Scandia, MN
 
Riverside Finance
(507) 424-2981
4108 18th Ave NW
Rochester, MN
 
McCarthy Auto World
(916) 420-9923
3350 129th Ave NW
Coon Rapids, MN
 
Bremer
(218) 745-4411
202 W Johnson Ave
Warren, MN
 
Edina Home Loans Inc
(651) 406-9990
3928 Cedar Grove Pkwy
Eagan, MN
 
Car Credit Store
(763) 323-9900
435 W Main St
Anoka, MN
 
Wells Fargo Financial
(320) 255-8874
2752 W Division St
Saint Cloud, MN
 

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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