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Posted in Auto Loans
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COMRAFT

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What advice would you give ?
To someone who would like to depart from an auto loan. $18,000 Balance, 18.98% APR, $460 monthly payment, 62 month term ?

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Top Contributor
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Try to sell the auto. If the auto is not worth what you owe, see how close you can get, make up the difference out of your pocket to pay the difference if needed. Or, if your credit has improved since getting this loan, you can try to refinance at a lower rate. Even if you could only get 16k out of the auto and had to pay 2k out of your pocket, you would still most likely be saving money from getting out of the interest and saving long term headaches.

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