Tuesday, July 19, 2011

Should i let my car get repossessed?

Heres my situation: i bought a 2002 chevy malibu almost 2 years ago. it has been problem after problem. originally i got financed at 25% (bad credit) for 4 years. i still owe 6K on the car and its only worth 1700. now the engine is shot. it will cost me a few thousand to replace it. i dont have the money. so do i let them repo it and pay repo fee+repairs for it to resell. or do i keep making my payments on a useless car? are there any other ways out of this? thanks

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