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by Cassandra on January 2nd, 2006

Cassandra

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I bought a car not knowing that the negative equity from my previous car was transferred to this one. I still owe $28000 for a $10000 vehicle. What are my options in getting rid of this vehicle?

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  • by Cassandra on January 8th, 2006

    Cassandra

    In answer to Pennington's response, it did not help my situation one iota. Obviously if I had read the fine print, I wouldn't be in this mess. I was looking for alternatives. I do have one alternative, give the car back, let them sell the car at auction and be responsible for whatever is left over. Of course, I will take the hit on my credit report, but that is better than me keeping the car. I've learned a valuable lesson from this one.

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  • by Anonymous on January 7th, 2006

    Anonymous

    Off hand, i would few and none options. did you not read the fine print before you purchased the second car? what did you think would happen to the negative equity in your old car? it just did not go away! as you probably by now, both liabilities are yours for the keeping. next time, before you sign anything, read and understand the fine print. the money your save.....will be yours. end

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