buying a vehicle then getting laid off the following week

United States
August 16, 2009 9:56am CST
what would you do if you get laid off a week after you buy a new vehilce. the payments will happen soon and the economy is crazy. what are some thoughts? and no there was no warning at work this was going to happen.... thanks
2 responses
@kiran8 (15319)
• Mangalore, India
16 Aug 09
Hi, do the obvious, Return the vehicle. I am sure one can do that, giving the reason and also promising to buy from them if and when you find another job. The important thing to do immediately is to reduce unwanted expenditure and stress for yourself...
• United States
17 Aug 09
thanks. actually i am looking for a new job and will use my retirement to pay the 2 months. im sure by then i will find another job. just wondering what others would think. yeah i know i am nuts. lol happy mylotting.
@kiran8 (15319)
• Mangalore, India
17 Aug 09
Hope things work out and all the best to you
@celticeagle (123950)
• Boise, Idaho
17 Aug 09
Read your legal papers. See if there is an amount of time that you can return the vehicle. See if you can sell it for atleast the amount, or close to, what you paid for it and just pay off the loan. That's about all I can think of.