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i recently financed a car and having second thoughts?

I recently financed a 2002 vehicle in which i know owe 7K put 5K down on it. I can afford the payments but im wondering if i can better spend the money on something else. Im terribly confused about the whole matter and was wondering if Im better off selling it back to the dealer and taking the loss or to stick with it. I have never in my life been so confused. To make matters worse there are no rumors of my job possibly doing some layoffs. I have tried craiglist but only gotten one response and the person backed off. Any suggestions will be greatly appreciated thanks.

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  • john l
    Lv 5
    1 decade ago
    Favorite Answer

    Sorry , but you have already spent your money, You entered into a legal binding agreement, unless you have not taken delivery of the vehicle yet, if you have not taken delivery, do not touch it , just back out.You will get screwed again trying to sell it back to the dealer, because they can only bid wholesale. you can run an add in the Newspaper, and try to recover your money that way, you need to find out exactly how much it is worth first and take it from there !!!!!!!!!!!

    Source(s): Don't listen to TeriR , Dealers will screw you bad if you let them, don't let them !!!!!!!!!!!!!!
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  • 1 decade ago

    Spend a buck-fifty at Wal-Mart and get a for sale sign. Sell it privately, you will get a lot more than the dealer will give you. Then get a car $5000 or so.

    Make payments to yourself for a while, and move up in car with cash. Never finance a car. The more you pay on them, the less they are worth.

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  • 1 decade ago

    I'd just stick with it, 7 g's go quick. But if it's the 2002 Pontiac Trans Am then let me know and I'd be happy to make an offer, I've been looking for the Car for a while now, email me if so at: butanebird91@yahoo.com

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  • 1 decade ago

    some dealers will give you a 3-5 days to change your mind on a loan---try checking with them---if not i wouldn't take the loss i would pay it down or try and sell it and get your money back unless you can find a way to trade it in on something you do want

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  • Teri
    Lv 4
    1 decade ago

    You do need to go back to the dealer. I think you may have bit off more than you can chew & they will gladly make it right...you'll still get a vehicle out of the dea.....l but one that you are more comfortable with. Good Luck !!

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