I'm Upside Down and I Cannot Get Up!!

Hello Laughter,

Hmmm, that's a tough one. You know how that works, as soon as you drive that car off the dealership parking lot your vehicle is upside down. Most cars don't hold their value. On that note, I know you don't want to hear this but you might be stuck with it unless.

1. You try to sell it yourself. Place a For Sale sign on it while you drive it.

2. If you don't care about your credit, have the Bank repo the car, but the only problem with that is...by Law they still have the right to come after you for the remaining balance.

My dad passed away in 2003 and my mom got stuck with his truck. She couldn't afford to pay for 2 cars and she pleaded with the Bank to come get it. They will not hear of it since she was on the contract with him. Therefore they were holding her responsible. They did not care my dad was dead (the drive of the vehicle). It was a stick shift and mom couldn't drive it if she wanted to.

Anyway, my point is that they finaly Repo the truck and they came after my mom with full force to collect. After all kind of nasty collectors calling threatening her. They settled for her to pay $3,500....instead of the remaining balance which was over $10,000....they will get their money when they sell it at action...

Hope this helped a little. I know you are looking for a better answer...but this is all I can say on this.:(

I hope someone else can come up with a better idea.

Take care and Good Luck my friend
Olivia~

Not that I recomend insurance fraud, but it sounds like the only person who will give you close to actual replacement cost is the insurance company, so make sure you are parking it on busy roads where it is likely to get hit.

If the reason you don't need the car is that you have another one as well, try selling the other one if you are not upside down in it.