Is it possible to return a car purchased with a car loan?
- 4 Comment
My car is a 05 honda pilot purchased used and we got a loan.
So, we had lots of probems and now we arent sure about the car:(
We had the car for 2 months.
I really dont mind paying 1 thousand to get out of the deal.
4 Comments on this post
Trackbacks
-
Firebird said:
It’s not possible. Your loan belongs to a bank. The bank is not in the car business. You MUST sell the car yourself, for as much as you can get out of it. So get cracking! It’s up to you.
Like or Dislike:
0 
0February 7th, 2010 at 9:52 am -
Lincoln6 said:
No you can’t return it. Otherwise it would be the most inexpensive way to rent a car for 2 months.
Like or Dislike:
0 0February 7th, 2010 at 9:52 am -
melville248 said:
Once you sign a contract for a loan you are legally committed. You may want to try to sell the vehicle and then you can pay off the loan. Good luck.
Like or Dislike:
0 0February 7th, 2010 at 9:52 am -
Scott H said:
The car is yours now. You don’t return it, it’s not a sweater you bought at Walmart. You would trade it in and buy something else, and you’ll lose a lot more than $1,000 doing it. Undoubtedly, you owe a lot more than the vehicle is actually worth. This is called negative equity. Let’s say you owe $14,000 and a dealer will give you $10,000 for trade in. That’s $4,000 in negative equity. That money has to be paid by you. If not out of your pocket, it can be added into the new loan. Then on the new car you are instantly upside down by several thousand dollars. Not a wise use of money.
Like or Dislike:
0 0February 7th, 2010 at 9:52 am
