What can I do if I can't pay a car loan anymore?
I took out a car loan last year, and it’s been nothing but a nightmare. Since the first month, I’ve struggled to make the payments and had to start dipping into my savings. I simply can’t afford the loan. What should you do if you’re unable to pay a car loan anymore?
- Surrender the vehicle or allow it to be repossessed
- Refinance the loan
- Sell or trade in the vehicle