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Posted in Auto Loans
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momkarma123

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I voluntarily gave my car back and I owe $4,000.00 to the dealer. Can i make payments to pay it off?
I can only pay 50.00 a month. Can I write them a letter and ask them?

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First, find out if they sold the car at auction.  If so, find out how much they sold it for.  If they sold it for less than the balance of your loan, you only owe the balance, not the full amount.  If they sold it for the same amount or more, then you owe them nothing.  Write to them, provide them with the VIN number, model, make, year of the vehicle and request this information.  Then, if you truly still owe them money, see if they will work out a plan with you.  Ideally, get them to agree to remove the account from your report once it is paid in full (not sure if they will do that, but it is worth a try).  Best of luck to you!

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