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Can't Afford Car Sioux Falls SD

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.

Sioux Falls, SD
Midwest Partners Federal Credit Union
(605) 336-0437
4701 E 26th St
Sioux Falls, SD
Mt Rushmore Loan Co
(605) 334-8288
300 N Dakota Ave Ste 110
Sioux Falls, SD
First Premier Bank
(605) 357-3088
6701 W 41st St
Sioux Falls, SD
Cortrust Bank
(605) 331-0101
2700 W 10th St
Sioux Falls, SD
Sioux Falls, SD
First Premier Bank
(605) 357-3139
536 N Sycamore Ave
Sioux Falls, SD
Sioux Empire Federal Credit Union
(605) 367-7070
2501 W 22nd St
Sioux Falls, SD
Midwest Family Lending
(605) 362-1234
4900 S Technopolis Dr
Sioux Falls, SD
Quality Lenders Inc
(605) 275-8282
915 S Marion Rd
Sioux Falls, SD

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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