My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

this dealership said it would not look bad on my credit but i think he is just saying that to get a sale. im upside down on my car 10 thousand dollars and i dont have the money to get it fixed. what should i do?

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

having been a bill collector I can tell you that even if you let them repossess it, you will most definitely have a deficient balance owing on the vehicle. I saw it a thousand times. People think that once the creditor repo%26#039;s the vehicle that, that%26#039;s the end of it. WRONG! the vehicle in question would go to auction, it needs major work.. I suspect the auction price wouldn%26#039;t exceed $1,000. leaving the balance of $9,000 still owing %26lt;YOU WOULD OWE THAT AMOUNT or whatever is left remaining and the creditor will send the balance to collections ruining your credit, or at the very least dinging it badly. The dealership is LYING to you!! GOOD LUCK!

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

Dealer is lying. Sell your car or get a loan to fix it. Then talk to loan company for some adjustment in installments.

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

THE DEALERSHIP IS BLOWING SMOKE AND IT WILL NOT ONLY LOOK BAD ON YOUR CREDIT, YOU WILL NOT BE ABLE TO GET ANOTHER VEHICLE.

A TYPICAL REPOSSESSION WILL BE ON YOUR RECORD FOR 7 TO 10 YEARS AND YOU CAN FORGET ABOUT ANY LOW INTEREST RATES AS WELL.

GET THE VEHICLE REPAIRED, ASK A FAMILY MEMBER OR A FRIEND FOR THE MONEY AND WORK IT OUT TO PAY THEM BACK AND PAY OFF THE VEHICLE.

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

It will ruin your credit and stay on your report for 10 years. Take it to a dealer, trade it in if you can and get whatever you can out of it and roll it into a lease, your payment might be higher but your negative equity will be over at the end of the lease. Also if you do get it repo%26#039;d they will sue you and if you do not pay for the remaining balance on the car they can garnish your wages, meaning they take a certain amount out of every one of your paychecks to pay off the car you got repo%26#039;d.

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

If they repo it, you are responsible for difference for what you owe and what it sells for. Letting it get repoed will solve zero of your problems, actually you just added more problems. They will get a judgment against you and the courts will force you to pay anyway.

My car needs about 2000 dollars in repair, should i let it get repossessed and get another one?

Borrow the money to fix it. Any dealer that says a repo won%26#039;t hurt your credit is a liar.