Monday, October 1, 2012

About Can I sell this car even though I'm making payments

Can I sell this car even though I'm making payments?
I bought this car, a 95 Oldsmobile Aurora, and two weeks later it isn't running at all. A mechanic told me it was going to cost a couple thousand to fix, and I don't have the money for that. I'm making $200/mo payments for the next two years, but my money goes to the dealer, and I found out that it doesn't affect my credit at all, which is why I agreed to the payments in the first place! The dealer will not fix my car, and has screened all calls and even called the police on us when we went to confront him. I want to get rid of this car, and I want out of the payments. And frankly, a small girl like me doesn't need a v8 engine just to get to work and school. Does anybody know how I can get out of this situation? If it helps, I know the car is registered in my name, and the only thing preventing me from stopping the payments is the dealer will tow my car back, and I will lose out on a $1000 down payment.
Law & Ethics - 4 Answers
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1 :
2 :
Yes it will affect your credit and you need to continue making payments. Otherwise, you will lose your car. The size of the engine has nothing to do with any of this.
3 :
You can't transfer the title because you don't hold it. Therefore, you can't legally sell it to someone else. Unfortunately, you bought a 15-year old piece of junk. Did you have it looked at by a mechanic *before* buying it? Sorry, but I think you're stuck with it.
4 :
You can't sell it because it doesn't actually belong to you until it is paid off. If there are still payments on it,it belongs to the dealer. Of course it affects your credit. Any time you don't make payments on money that you owe,it affects your credit. You paid almost $6,000 for a 15 year old car? They saw you coming. You paid way too much.
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