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Can't Afford Car Salt Lake City UT

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.

Prestige Financial
(800) 984-6737
1420 South 500 West
Salt Lake City, UT
Prestige Financial
(800) 984-6737
1420 South 500 West
Salt Lake City, UT
Mountain America Credit Union
(801) 967-6100
Salt Lake City, UT
Utah Capital Alliance
(801) 322-0195
350 W 800 N
Salt Lake City, UT
Nimbus Capital Partners
(801) 277-3095
2340 Phylden Dr
Salt Lake City, UT
(801) 304-9936
3712 Philadelphia Avenue, Midvale, UT 84047
alasak, AL
Medallion Bank
(801) 284-7065
1100 E 6600 S
Salt Lake City, UT
Wells Fargo Financial
(801) 840-2255
1871 W 4700 S
Salt Lake City, UT
Dollar Loan Center
(801) 363-5626
4965 S 900 E
Salt Lake City, UT
The Cash Advantedge
(801) 955-7368
2680 W 3500 S
Salt Lake City, UT

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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