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Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 1 decade ago

My husb and I seprtd- he had his car repo'd. My nm on loan. I wnt to trd my car in for another, how can I?

I want a car with lower payments and better on gas. My name was on my estranged husbands car which was repo'd- I have a vehicle and making pmnts on- how can i do this? My credit is poor at this time. Is it possible to trade in my vehicle and get lower pmnts? I am about even with the equity on the car

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  • JetDoc
    Lv 7
    1 decade ago
    Favorite Answer

    You know that you do have sufficient keys on the computer keyboard to be able to spell words properly... You don't need to use text message abbreviations for your questions! Using complete words and sentences makes it much easier for the rest of us to read and understand your question!

    Now... getting to your question... If your name was on the loan for the car that was repossessed, you're pretty much hosed. Your credit rating has taken a big hit, and it's unlikely you'll be able to find reasonable financing for a new car. The only suggestion I can make at this time is to start saving your money until you can afford to buy a better car for cash.

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  • 1 decade ago

    It usually takes a month or so for a repo to report on your bureaus. If the repo was recent, it may not show up yet. IF you really are about even, (not sure how you assume that) take as much money as you can and go find a car that works. Bad credit just means you will have to put more money down and you will take an interest rate hit. Not that big of a deal if it works better for your monthly out-go.

    Remember, a dealer wants to sell you something and will do whatever they can to get a bank to do a loan for you. There are MANY sub-prime lenders. Look carefully at what they offer and weigh out the money difference with what you have now. When ALL the costs are factored in, it may make sense to keep what you have.

    I am a finance manager, and will look at your deal if you email me...

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  • Anonymous
    1 decade ago

    The two answers above pretty much covered everything I could tell you except this; You should never put your name on anything that another party is going to be partially responsible for. I see this same thing happen to people everyday. Love or no love, you keep yours and he keeps his and when it doesn't work out, each person is responsible for their own ending.

    Good luck. I hope that you can find a good unit.

    Source(s): Repo Company Owner
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