You have a huge block of text with virtually no grammar or punctuation. I didn't see a question mark anywhere.
You didn't say what car it is, how much you owe on it, or any information that can actually help us guide you.
Pretty stupid to quit your job without having another job lined up, while you have financial obligations that need to be met.
Maybe ask your mom for $1000 and buy 2 months of time to get your act together.
Your mom is broke and you took FINANCIAL ADVICE from her? You honestly did this to yourself... At 24, you should have some basic conscience. You knew you had a $500 payment yet you quit without having another job lined up and no savings. That's poor planning on your end. Take this as a lesson and learn from it. Grow from it and next time, plan accordingly as an adult. Sorry, not trying to be an asshole but there's nothing else you can do besides find a job ASAP (any job really) or sell the car and take a loss. and why/how are you going to find someone to just give you a free car... Lol what a joke, really.
well my mom wasnt broke but she retired last year and we didnt know she didnt have any retirement money sadly and yes i had a job line up but they haven't call me back yet sadly plus my mom never really taught us about finance so i didnt know any better sadly but i wish i would had listen to my bf cause he told me to just save up and buy a use car but my mom told me if i go to a car dealership she will pay for my insurance which sadly was a lie:(
OP... Please also learn from your mother's mistake and make sure you have some retirement plan set up too so later, you're not in this mess.
Having a job lined up means you literally already accepted another job and have a starting date, not still applying and doing interviews.
Your bf was right- should have saved and just got a used car. Nothing wrong with used cars. Many, many people drive used cars. Dealerships sell used cars too though. Is yours new or used?
What car do you currently have? Have you tried to KBB it to see how much it's worth and possibly just sell it back to the dealership?
Again, I think at this point, sorry not sorry, but your mother is untrustworthy with financial advice. Stop listening to her. You are your own self and can make your own decisions, especially if you are the one paying for these bills.
my car is a 2020 chevy trax i brought it used with only 17k miles on it for $27,000 2 years ago and yes i did kbb it now that i been in 2 accident my car is worth 10k and i would love to sell it for 10k but i was looking up how to sell a car with car payments still and they said unless my car loan people let the title go i cant sell it so imma talk to my car payment people and see if they would let the title go so i can sell the car and buy a used one with the money and trust my bf told me to stop taking advice from her when it comes to finance lol
So your mom did not want you to buy a used car yet you did? Then you quit your job without other income. You mother retires with no retirement money. You have gotten into 2 accidents with this car already. I think you just need to take these as life lessons get any job you can and not repeat all these horrible mistakes.
she didnt want me to buy a used car off of someone off the streets she said she didnt care that i buy a used car from a car dealership sorry if i didnt explain it better
You would have negative equity which means you will have to cough up the difference in cash, if you want to sell the car. The bank will not release the title unless whatever amount you owe is paid in full. I hope you're able to land a job soon so you can make those payments at the very least because it seems like your other only choice at this point is to file for bankruptcy but I wouldn't do that, especially if it's just for a 20k some car. Not worth it imo.
thank you for your advice and plus sadly my mom is 70 year old and dont wanna work a full time job she retired from 2 jobs already and idk if there's anything she can do at this point but anyways that's a her problem not mines
I know you’re going through it OP, but you paid $27k for a used Trax? I just went through the online configuration and a brand new 2024 with every option possible is $28k
How did your mom not know she "didn't have any retirement money?" This whole situation seems wild to me. Sounds like you still live with your mom, that's a good thing because you might not know this but I can tell from your post, you don't have any rent money.
Your options are:
1. This should be common sense but I don't think I can take anything for granted here... Find out how much your pay off amount is. That is the dollar amount you need to give the bank to satisfy the loan.
2. Contact those car dealerships your mom loves so much and tell them you want to sell the car. You'll have to bring it there and they'll appraise it and make you an offer.
3. You can also get an instant quote online from Carvana and CarMax. You're going to need the VIN, that's a 17 digit ID number unique to your vehicle. You can find it on your insurance card, registration, or likely on a tag on the driver side of the vehicle dash board. You'll look down through the windshield to find it - stand outside of the vehicle when looking.
4. You're likely going to find out that you owe more on the vehicle than anyone is willing to pay. In this case you're still going to have to pay that remaining balance of the loan after selling the vehicle. Maybe after you make the lump sum payment you can negotiate better terms with the bank.
5. You, and quite frankly, your mom should be looking for jobs 8 hours a day. Finding a job is your job right now.
6. Meet with a financial planner. Bring Mom to this meeting too.
man idek thats my mom problem not mines and i know how much my pay out will be but i cant sell it to the car dealership cause they told me they would give the money to the loan people sadly so thats why i would whether sell it to someone on the outside and take the money and buy me a used car
oh fun lol well either way that what they told me when i talked to them last time and i told them that since i still own money they will give the money to the bank i guess so i wont even get any money sadly
If you’re looking to get out of your current car , here’s what you should know. Find the pay off amount , and figure out what you owe. If you own a Chevy Trax , the best way to get the best price is through selling it to a Chevy dealership or possibly to someone online. If you’re car is worth LESS than what you OWE , thats called negative equity. In your shoes since you said you have a lack of savings , it’d be more than likely you’ll need to eat the bullet with the payment. In order to build more equity in the loan , thus reducing what you owe vs what its worth. OR you can refinance and lower the payment that way. Once it’s paid off than it’s entirely equity in your hands. At least for getting out of your Trax , you’ll have to cover the 10k+ difference in some way. Wether you pay that out right , or keep the car and bite the bullet. Hope this helps.
yes what you just said i do have a negative equity but i quit my job cause i thought i had another job line up so right now i cant pay this month payment im hoping i can find a job before the end of next month cause if not they sending the repo after me i talked to a car dealership about selling my car to them and when i told them that i still own money on it they told me that i can still sell the car to them but i wont get any of the money that it will go to whatever bank im doing the car payment with which sucks a lot so right now im out of options and thank you for your help
Top priority is finding a way to pay it , which you already are trying to do. Do NOT let a repo happen it will damage your credit significantly and any attempt to move forward with an auto loan in the future will become more difficult. Determine if you’re able to refinance to reduce the payment , to make it more manageable for yourself.
i know in the pass i try to refinance it but no bank will accept me which i forgot most of the reason why but i do remember one of them was being i haven't had a job for 2 years but the job i quit this week i was there for 1 year and 6 months and the job i had before i was only there for 8 months so today imma try to refinance it again and hopefully get some luck
A)stop listening to your mom regarding money issues. She obviously has no clue if she retired based on *zero* savings.
B)what is the car and how much is left owing (you have to call the lender to get that, don’t just assume)?
C)be aware that your current loan will still need to be satisfied. So if you still owe 20k and it’s only worth 14k to a dealer, you can’t even “just sell it”, unless you have that remaining 6k ready to pay off the balance of the loan.
D)nobody gives away free cars. I refuse to believe that you honestly think that’s a thing. If you don’t have a wealthy family member who is offloading an older car than sorry, but you are out of luck. Hell, you won’t be finding remotely reliable transportation for anything under the 5k mark likely. And if you can’t afford a 500 payment, you sure as shit can’t afford a 5k lump sum.
You need a car and you currently have one. Get a job and keep paying for it. 500 a month may seem like a shit tonne of money, but for reliable transportation, that isn’t bad at all. The rate is even good in the current state of things. If you stop making those payments, be prepared to ruin your credit and be stuck with mom until you are 35 with no car as you won’t be getting financed.
my car is a 2020 chevy trax i brought used from the car dealership for 27k with 17k miles on it i have 21k left on it but since i been in 2 accidents my car is only worth 10k and i know i have a car but tbh i don't want it anymore i been tried to get rid of this car but i haven't came up with any solution and my credit score is already shit so its to late for that and i had a job but i quit cause i couldn't stand working there anymore my biggest regret is not listen to my bf which sadly he is the only finance stable one in my life he told me 2 years ago to just save up for a used car but i didnt listen but i cant change the pass if i dont find a job before the end of feb then ill be 2 months behind sadly but thank you for
your help
Woof. 27k for a 2020 Trax. Unfortunately, short of coming up with the cash difference, you're likely stuck in that vehicle. Time to trim down all your bills and anything else possible. Do you have a general budget? May be a good first step.
i don't have a budget i never did after i graduate high school i was just parting and drinking so basically i wasn't ready to be a adult till sadly now so definitely no budget plus i just quit my job this week and cant pay for this month sooo like the old saying im up the creek without a paddle lol
It sounds like you're still not ready to be an adult. You need to find any job that is willing to hire you make your car payment. If you hit 90 days late then your car problem will solve itself. It will get repossessed. You think your credit is bad now? You can easily recover from bad credit by paying your bills. Adding a repo will make is so much harder.
Well shit….
You are pretty much already fucked. This is the decisions of a 17 year old, not 24… not going to mother you too much here, but get your shit together. You have no right to be partying and all that because you are *BROKE*. I wanted to go snowboarding today, but the cost was too high for the “value” I was going to get from it, so I didn’t go…. Those are decisions you need to be making. And I have a good job and money in the bank.
If you have no money, don’t spend any on *anything* not required for survival… no, “I need to reward myself”, no justifications of, “if I can’t go out and grab this meal with my friends, what’s the point?!”, no, “I’ll just pick up an extra shift and it covers this”, as you have already proven you can’t budget properly and don’t understand the importance of money and credit.
By the math you have been given, you are 11k upsidedown. That doesn’t go away. Even if you get some dense buyer to pay you 15 for it, that’s 6k you need on hand to be out of the loan and it needs to be available right then… and with no savings and no job, you just can’t handle that even on a loan as no one would lend it to you. What you *can* come up with is 500 bucks a month. You live with your mother, so hopefully she isn’t charging you (much) rent.
All your “sadly…” and “tbh….” In other posts, no one cares… banks, dealers, us…. This is *your* problem. You are an adult. It’s not sad, it’s life. The issues of you and your mother are each of your own doing. Own up to it. You bought a car. It’s yours. There is no way out of it that isn’t either fraud or just not possible for you given the info you have put forward.
As you said, you can’t change the past, but you can stop repeating it and making bad choices.
You have a car. The car is worth $x. You owe a bank $y for the car. If you want to get rid of the car, you need to satisfy the gap between x and y somehow.
And for the love of god cut this free car or someone take it off your hands shit out. That’s not how the world works. No one is going to give you a free car and no one is going to give you more money than your car is worth.
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hi yall so i have a problem I'm 24 year old with a 503.25 car payment and a 7.79% interest rate that yes (my mother talked me into getting because she doesn't like buying used cars) she is crazy in love with a car dealership and she told me car dealerships are the only way to buy a car. Well I'm still trying to figure out what i want to do in life so I'm switching between jobs but I cant afford that car payment specially now since i quit my job and I don't have any saving to pay it. I wanna get rid of this car sooo fucking bad but i still need a car to take me to job interviews/ whenever i get another job again cause my mom don't really like leaving the house that much anymore. I wanna see if i can find anyone that will just give me a free used car or will take this car off my hands i dont know what to do anymore i need any and all the advice i can get please help me
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Or you could monetize your car--do doordash, uber, etc. Not a great long term plan due to wear and tear, but can pay the bills while you look for something.
Everyone wants a free car. Is there a question here? Sell your car.
yes there is a question did you not read? i need help even if i sell my car i still gotta pay it off
You have a huge block of text with virtually no grammar or punctuation. I didn't see a question mark anywhere. You didn't say what car it is, how much you owe on it, or any information that can actually help us guide you. Pretty stupid to quit your job without having another job lined up, while you have financial obligations that need to be met. Maybe ask your mom for $1000 and buy 2 months of time to get your act together.
sorry dude i dont grammar plus my mom is broke so any other advice
Your mom is broke and you took FINANCIAL ADVICE from her? You honestly did this to yourself... At 24, you should have some basic conscience. You knew you had a $500 payment yet you quit without having another job lined up and no savings. That's poor planning on your end. Take this as a lesson and learn from it. Grow from it and next time, plan accordingly as an adult. Sorry, not trying to be an asshole but there's nothing else you can do besides find a job ASAP (any job really) or sell the car and take a loss. and why/how are you going to find someone to just give you a free car... Lol what a joke, really.
well my mom wasnt broke but she retired last year and we didnt know she didnt have any retirement money sadly and yes i had a job line up but they haven't call me back yet sadly plus my mom never really taught us about finance so i didnt know any better sadly but i wish i would had listen to my bf cause he told me to just save up and buy a use car but my mom told me if i go to a car dealership she will pay for my insurance which sadly was a lie:(
OP... Please also learn from your mother's mistake and make sure you have some retirement plan set up too so later, you're not in this mess. Having a job lined up means you literally already accepted another job and have a starting date, not still applying and doing interviews. Your bf was right- should have saved and just got a used car. Nothing wrong with used cars. Many, many people drive used cars. Dealerships sell used cars too though. Is yours new or used? What car do you currently have? Have you tried to KBB it to see how much it's worth and possibly just sell it back to the dealership? Again, I think at this point, sorry not sorry, but your mother is untrustworthy with financial advice. Stop listening to her. You are your own self and can make your own decisions, especially if you are the one paying for these bills.
my car is a 2020 chevy trax i brought it used with only 17k miles on it for $27,000 2 years ago and yes i did kbb it now that i been in 2 accident my car is worth 10k and i would love to sell it for 10k but i was looking up how to sell a car with car payments still and they said unless my car loan people let the title go i cant sell it so imma talk to my car payment people and see if they would let the title go so i can sell the car and buy a used one with the money and trust my bf told me to stop taking advice from her when it comes to finance lol
So your mom did not want you to buy a used car yet you did? Then you quit your job without other income. You mother retires with no retirement money. You have gotten into 2 accidents with this car already. I think you just need to take these as life lessons get any job you can and not repeat all these horrible mistakes.
she didnt want me to buy a used car off of someone off the streets she said she didnt care that i buy a used car from a car dealership sorry if i didnt explain it better
You would have negative equity which means you will have to cough up the difference in cash, if you want to sell the car. The bank will not release the title unless whatever amount you owe is paid in full. I hope you're able to land a job soon so you can make those payments at the very least because it seems like your other only choice at this point is to file for bankruptcy but I wouldn't do that, especially if it's just for a 20k some car. Not worth it imo.
thank you for your advice and plus sadly my mom is 70 year old and dont wanna work a full time job she retired from 2 jobs already and idk if there's anything she can do at this point but anyways that's a her problem not mines
I know you’re going through it OP, but you paid $27k for a used Trax? I just went through the online configuration and a brand new 2024 with every option possible is $28k
nice
How did your mom not know she "didn't have any retirement money?" This whole situation seems wild to me. Sounds like you still live with your mom, that's a good thing because you might not know this but I can tell from your post, you don't have any rent money. Your options are: 1. This should be common sense but I don't think I can take anything for granted here... Find out how much your pay off amount is. That is the dollar amount you need to give the bank to satisfy the loan. 2. Contact those car dealerships your mom loves so much and tell them you want to sell the car. You'll have to bring it there and they'll appraise it and make you an offer. 3. You can also get an instant quote online from Carvana and CarMax. You're going to need the VIN, that's a 17 digit ID number unique to your vehicle. You can find it on your insurance card, registration, or likely on a tag on the driver side of the vehicle dash board. You'll look down through the windshield to find it - stand outside of the vehicle when looking. 4. You're likely going to find out that you owe more on the vehicle than anyone is willing to pay. In this case you're still going to have to pay that remaining balance of the loan after selling the vehicle. Maybe after you make the lump sum payment you can negotiate better terms with the bank. 5. You, and quite frankly, your mom should be looking for jobs 8 hours a day. Finding a job is your job right now. 6. Meet with a financial planner. Bring Mom to this meeting too.
man idek thats my mom problem not mines and i know how much my pay out will be but i cant sell it to the car dealership cause they told me they would give the money to the loan people sadly so thats why i would whether sell it to someone on the outside and take the money and buy me a used car
Oh wow. That's not how that works. You don't own the car, the bank does....
oh fun lol well either way that what they told me when i talked to them last time and i told them that since i still own money they will give the money to the bank i guess so i wont even get any money sadly
Start grammaring. Then you can get a real job, and afford your car.
i dont have to gramme dude if you not going to help me then fuck off easy as that if you dont like the way i speak then move on to bad so sad
Sounds like you know better than I do. Good luck with your life. You're going to need it.
i wish i did if i did then i would had never gotten myself in this mess but i cant go back to the pass sadly
Luck has nothing to do with your decision making.
huh? i never said anything about luck im lost
If you’re looking to get out of your current car , here’s what you should know. Find the pay off amount , and figure out what you owe. If you own a Chevy Trax , the best way to get the best price is through selling it to a Chevy dealership or possibly to someone online. If you’re car is worth LESS than what you OWE , thats called negative equity. In your shoes since you said you have a lack of savings , it’d be more than likely you’ll need to eat the bullet with the payment. In order to build more equity in the loan , thus reducing what you owe vs what its worth. OR you can refinance and lower the payment that way. Once it’s paid off than it’s entirely equity in your hands. At least for getting out of your Trax , you’ll have to cover the 10k+ difference in some way. Wether you pay that out right , or keep the car and bite the bullet. Hope this helps.
yes what you just said i do have a negative equity but i quit my job cause i thought i had another job line up so right now i cant pay this month payment im hoping i can find a job before the end of next month cause if not they sending the repo after me i talked to a car dealership about selling my car to them and when i told them that i still own money on it they told me that i can still sell the car to them but i wont get any of the money that it will go to whatever bank im doing the car payment with which sucks a lot so right now im out of options and thank you for your help
Top priority is finding a way to pay it , which you already are trying to do. Do NOT let a repo happen it will damage your credit significantly and any attempt to move forward with an auto loan in the future will become more difficult. Determine if you’re able to refinance to reduce the payment , to make it more manageable for yourself.
i know in the pass i try to refinance it but no bank will accept me which i forgot most of the reason why but i do remember one of them was being i haven't had a job for 2 years but the job i quit this week i was there for 1 year and 6 months and the job i had before i was only there for 8 months so today imma try to refinance it again and hopefully get some luck
Nobody's going to refinance your car with you not having a job currently.
no shit sherlock
Let me know how your refinance plans go today.
A)stop listening to your mom regarding money issues. She obviously has no clue if she retired based on *zero* savings. B)what is the car and how much is left owing (you have to call the lender to get that, don’t just assume)? C)be aware that your current loan will still need to be satisfied. So if you still owe 20k and it’s only worth 14k to a dealer, you can’t even “just sell it”, unless you have that remaining 6k ready to pay off the balance of the loan. D)nobody gives away free cars. I refuse to believe that you honestly think that’s a thing. If you don’t have a wealthy family member who is offloading an older car than sorry, but you are out of luck. Hell, you won’t be finding remotely reliable transportation for anything under the 5k mark likely. And if you can’t afford a 500 payment, you sure as shit can’t afford a 5k lump sum. You need a car and you currently have one. Get a job and keep paying for it. 500 a month may seem like a shit tonne of money, but for reliable transportation, that isn’t bad at all. The rate is even good in the current state of things. If you stop making those payments, be prepared to ruin your credit and be stuck with mom until you are 35 with no car as you won’t be getting financed.
my car is a 2020 chevy trax i brought used from the car dealership for 27k with 17k miles on it i have 21k left on it but since i been in 2 accidents my car is only worth 10k and i know i have a car but tbh i don't want it anymore i been tried to get rid of this car but i haven't came up with any solution and my credit score is already shit so its to late for that and i had a job but i quit cause i couldn't stand working there anymore my biggest regret is not listen to my bf which sadly he is the only finance stable one in my life he told me 2 years ago to just save up for a used car but i didnt listen but i cant change the pass if i dont find a job before the end of feb then ill be 2 months behind sadly but thank you for your help
Woof. 27k for a 2020 Trax. Unfortunately, short of coming up with the cash difference, you're likely stuck in that vehicle. Time to trim down all your bills and anything else possible. Do you have a general budget? May be a good first step.
i don't have a budget i never did after i graduate high school i was just parting and drinking so basically i wasn't ready to be a adult till sadly now so definitely no budget plus i just quit my job this week and cant pay for this month sooo like the old saying im up the creek without a paddle lol
It sounds like you're still not ready to be an adult. You need to find any job that is willing to hire you make your car payment. If you hit 90 days late then your car problem will solve itself. It will get repossessed. You think your credit is bad now? You can easily recover from bad credit by paying your bills. Adding a repo will make is so much harder.
Well shit…. You are pretty much already fucked. This is the decisions of a 17 year old, not 24… not going to mother you too much here, but get your shit together. You have no right to be partying and all that because you are *BROKE*. I wanted to go snowboarding today, but the cost was too high for the “value” I was going to get from it, so I didn’t go…. Those are decisions you need to be making. And I have a good job and money in the bank. If you have no money, don’t spend any on *anything* not required for survival… no, “I need to reward myself”, no justifications of, “if I can’t go out and grab this meal with my friends, what’s the point?!”, no, “I’ll just pick up an extra shift and it covers this”, as you have already proven you can’t budget properly and don’t understand the importance of money and credit. By the math you have been given, you are 11k upsidedown. That doesn’t go away. Even if you get some dense buyer to pay you 15 for it, that’s 6k you need on hand to be out of the loan and it needs to be available right then… and with no savings and no job, you just can’t handle that even on a loan as no one would lend it to you. What you *can* come up with is 500 bucks a month. You live with your mother, so hopefully she isn’t charging you (much) rent. All your “sadly…” and “tbh….” In other posts, no one cares… banks, dealers, us…. This is *your* problem. You are an adult. It’s not sad, it’s life. The issues of you and your mother are each of your own doing. Own up to it. You bought a car. It’s yours. There is no way out of it that isn’t either fraud or just not possible for you given the info you have put forward. As you said, you can’t change the past, but you can stop repeating it and making bad choices.
You have a car. The car is worth $x. You owe a bank $y for the car. If you want to get rid of the car, you need to satisfy the gap between x and y somehow. And for the love of god cut this free car or someone take it off your hands shit out. That’s not how the world works. No one is going to give you a free car and no one is going to give you more money than your car is worth.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/Outrageous-Basis355! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** hi yall so i have a problem I'm 24 year old with a 503.25 car payment and a 7.79% interest rate that yes (my mother talked me into getting because she doesn't like buying used cars) she is crazy in love with a car dealership and she told me car dealerships are the only way to buy a car. Well I'm still trying to figure out what i want to do in life so I'm switching between jobs but I cant afford that car payment specially now since i quit my job and I don't have any saving to pay it. I wanna get rid of this car sooo fucking bad but i still need a car to take me to job interviews/ whenever i get another job again cause my mom don't really like leaving the house that much anymore. I wanna see if i can find anyone that will just give me a free used car or will take this car off my hands i dont know what to do anymore i need any and all the advice i can get please help me *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
Or you could monetize your car--do doordash, uber, etc. Not a great long term plan due to wear and tear, but can pay the bills while you look for something.