How can I get out of my loan with Ford Credit?

I have a Ford Fusion with a loan through Ford Credit. I recently got furloughed from my job, so I can't afford the loan. Can I get out of it somehow?

Answer
Sorry to hear about your furlough. Hopefully, things pick up soon.
Unfortunately, with your car loan through Ford Credit, you will not be able to simply get out of the loan. But you have a few options:
  • Refinance the car through a different lender (Ford Credit doesn’t refinance)
  • Voluntarily surrender the car, although this will have a devastating effect on your credit
  • Continue to make payments and cut costs in other places
If you want to cut costs, you may want to start with your car insurance. To compare rates, Jerry can help! Jerry is an online insurance broker that allows you to compare quotes from up to 50 providers in just minutes. Jerry will take care of all the paperwork for you, so you get all of the savings with none of the hassles.
Eric Schad
Answered on Oct 21, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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