Car loan problem..Need help and advice?

I have a 2007 civic ex coupe nav.. I still owe about 18,000 on it and just got it in September of last year...I want a Chysler 300 that I can get one for under 15,000... I keeping getting rejected from dealerships because I still owe so much on my civic and not had it for a yr yet..So I want to get peoples take on what I should do. This 300 is a car i've been wanting SOO bad.. If I was smarting a few months ago.. I wouldnt be having this problem.. But what you guys think I should do, that would end up me GETTING a 300.....





Thanks for readingCar loan problem..Need help and advice?
You're pretty much screwed for now unless you can get somoene to buy the Civic for $18,000 Sorry buddy:(Car loan problem..Need help and advice?
Sounds like you bought the car preowed, and chances are you probably traded something in on it that still had a balance on it. (That is, you rolled over your negative equity into the Honda's loan). Or you just simply paid way too much for the Honda and/or got a considerably high interest rate and/or bought all the extended warranty junk, too.





I have car sales experience, so these are various hypothetical situations that I'm guessing happened. Here is what you need to do.





First of all, understand that you need to quit thinking about a 300. It's a good car, yes, but it sounds to me that you don't really NEED it. Even if you were able to trade into one, you are just dumping more negative equity into the loan. So, essentially you are paying for two (maybe 3) cars in one loan. The banks are very reluctant to offer an auto loan in these situations. Especially if you are not willing to put down at leat enough money to cover up your negative equity. Having a poor credit score will also get you rejected immediately. Keep in mind that every time you go to a dealer, your score is getting killed each time they pass your credit info to their banks trying to get an approval. You are hurting yourself.





So this is just a little lesson. Your only way out is to wait another year to let your score recuperate. Then plan on putting a lot of money down... I mean ALOT because you have so much negative equity that the banks don't have enough ';advance'; to cover it up or roll it into the loan of another car.





The very best advice is this: Keep your car until your score is in the mid 700's or higher. Then you can consider refinancing the ballance at a lower rate, but don't extend the term. Refinance the remainder of the term. (i.e. If you owe for 36 more months, don't refi for 48 months to get a lower payment. Refi for the 36 months or shorter). Put the Chrysler 300 WAY out of your mind for a LOOOONG time.





Or, you could always cancel your extedned warranties to lower you ballance, then try to trade the car only if you are going to put down LOTS of money.
Hi am Marcy Ally, i lived in North California with my 2 kids, its not easy to get a loan from the bank now because the world economic is shaking, but i can refer you to a private loan firm, where i borrow $25,000 last month even with my bad credit score to pay for my bills and to settle out some dept. They dont charge you for anything and the intrest rate is okay. Contact them via email: mikegloballoanhouse@yahoo.com they can help you out with a loan.
I am Tracy White I lived in Canada with my son name Mark and my aged mother. Sometime last year I lost my husband leaving me and the family in debt so i need a money to pay back the debt and pay some the bills, so two months ago I was in search for a loan of $30,000, as i was running out of money to meet up things for my family and I was scammed $3000 and I decided not to involve my self in such business again.Last month a friend of mine introduced me to Mr. Felix Brown who is Managing Director of Felix brown loan firm.Due to the fact that i needed money to fix things right. I made a trial and I was given a loan without any delay so if you need a loan and you don't want to be scam knowing that you can be trusted and reliable of paying back the loan at the due time I will advice you to contact him below are the address.Wish you the best of luck.felixbrownloanfirm75@yahoo.com


Tracy White
You need to try and sell your Civic for at least $18,000 in order not to lose money, or at least get someone to take over payments.





I've been wanting Chrysler 300 myself ever since it came out in 2004. I rented it in California for a week and absolutely loved it. But there are now so many of them around that I lost interest.





If you really want this car, then you'll end up losing money on the Civic. It's all about how bad you want the car.
Sometimes it's best to just change what you want. If you keep the civic (nice car!) you can build on your equity and you won't end up having severe financial problems and having to get rid of your Chrysler later on.