Is anyone here a car dealer?

[killstatic]

I'm behind on my car payments and I'm going to return my car to the bank next week Jan 2ish

They said the car will be auctioned off at a dealer only auction. My sister is willing to buy the car back if we can get it cheap enough. So do any car dealers want to help?

 

[auburnfan04]

Who is your car financed through

 

[killstatic]

Fifth third bank

 

[jeshoffstall]

You do realize the bank will still hold you responsible for the difference between what you owe and what it sells for at auction? Usually several thousand dollars. Any reason your sister can't buy it directly from you?

 

[Csanino]

You do realize the bank will still hold you responsible for the difference between what you owe and what it sells for at auction? Usually several thousand dollars. Any reason your sister can't buy it directly from you?

Yeah, if you owe lets say, $10k for the car, and it goes to auction and sells for $6k, you will be responsible for the $4k difference. and IF you make the mistake to tell them "i wont pay" it when they contact you for the diff (and they will) they will take you to small claims. you just have to pick up the phone and tell them "i cant talk right now" forever.

-Carlo

 

[gunlover]

Yeah, if you owe lets say, $10k for the car, and it goes to auction and sells for $6k, you will be responsible for the $4k difference. and IF you make the mistake to tell them "i wont pay" it when they contact you for the diff (and they will) they will take you to small claims. you just have to pick up the phone and tell them "i cant talk right now" forever.

-Carlo

Or get a straight talk phone with a unlisted number works great for me no calls but from people I give the number too, and you can change the number 10 times a year. They cant call they cant get money, I love it lol

 

[Cigar Dave]

Yeah, if you owe lets say, $10k for the car, and it goes to auction and sells for $6k, you will be responsible for the $4k difference. and IF you make the mistake to tell them "i wont pay" it when they contact you for the diff (and they will) they will take you to small claims. you just have to pick up the phone and tell them "i cant talk right now" forever.

-Carlo

Correct, and IF they do decide to forgive the debt you will be issued a 1099 for this amount that you will have to pay taxes on. There are no freebies out there...

 

[Clearance_Clarence]

Or get a straight talk phone with a unlisted number works great for me no calls but from people I give the number too, and you can change the number 10 times a year. They cant call they cant get money, I love it lol

Why not just pay your bills? Seems easier to me.

 

[gunlover]

Why not just pay your bills? Seems easier to me.

Got to have a job and money first lol I my self don't have them. And whats the fun in paying them

 

[jloneill17]

Why not just pay your bills? Seems easier to me.

b/c that would mean taking responsibility. most of the new generation don't know anything about it.