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Posted in Auto Loans
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TASLB

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Im upside down in my car loan right now what choices are there to help me keep my car

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Being upside down, meaning that you owe more on the car than what it is worth doesn't mean that you are going to lose the car. If this is the case, there isn't much you can do besides suck it up and work hard to get the loan paid down so you are no longer upside down. You could try to sell it for what you owe and hope to find a sucker, which may not be too hard as people overpay for cars all of the time. If you meant that you are behind on your payments when you said "upside down", the first thing that you should do is to contact the lender right away, explain your situation and see if there is anything that they can do to help you bring the loan current.

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