First time posting. I am 28 and currently am trying to build my credit back up as my hopes are to purchase a house in a couple of years. Few years ago I took out an auto loan and did what any mid 20's guy would do and get the nicest car I could. I wasn't on top of my spending as I am now. I didn't care about the 17% interest or the 5 year payoff time or the fact it did not have a warranty. I just wanted a nice car.
Now I still have 2.5 years left to pay it off at the current rate. I owe more than the car is worth. Car is now worth 7k and I owe 9500. The car needs work.
I am thinking about trading it in or trying to sell and getting something newer with a warranty if my monthly payments are less than what I am paying now. What are my options? I do not want to have be put in a situation where I owe more than what the car is worth.
Submitted October 03, 2018 at 10:08AM by jonlopez100 https://ift.tt/2y9HLzq
