Need to sell my car, 'cause I can't take it home, should I let the bank keep it? Will they mess up my credit?


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I'm going back home on May 23rd, so Ineed to sell it or giveaway my account, what should I do? 'cause I really don't wanna mess with my credit or my co-signer's credit as well...


Answer (4):

 
Emilou

Immediately talk to your bank about your options. They will tell you clearly and honestly what they think. Do not be afraid of this conversation, you are their customer and this is just a matter of money - nothing personal. And they will tell you how it affects your credit.

You could possibly sell it on eBay or an Auto Auction site. You do still have a week.... a lot can be accomplished in a week.

 
Robert L www.gogreedy.com

Do not let it go back to the bank. It will count against you on credit. Not to mention your co-signer could be hit with this problem. Why can't you take it with you? I am confused, do you live on an island lol (sorry)
I would try to sell it. Do you have a friend you can leave it with? If you do let them sell it for you and give them something for their time. Also keep making the payments until it is sold. I am not sure this helped but good luck
Bob Laibach
www.gogreedy.com

 
derek

I'd sell it myself if I were you.

Think about it. The bank has a signed contract, so they will get their money.

They aren't in the car buying/selling business so they will auction the car and come after you and your co-signer for the difference owed on the contract. They'll also have to pay somebody to repo the car and sell it for them, not to mention they'll need legal advice to make sure they are doing things correctly.

Guess what? You'll not only pay off the contract, but you'll also pay all those other fees. And YES....the bank will report that you didn't keep your end of the contract and quit paying what you agreed to. That'll make it more difficult for you to get financing in the future.

Having that car shipped home would be less costly than letting the car get repo'd.

 
Tiare

if you dump this on the bank, it will hurt both your and the co-signers credit. sell it or keep it.