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re: Need advice re: car payment with high interest rate**UPDATE on page 3**

Posted on 7/14/13 at 10:11 am to
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
90846 posts
Posted on 7/14/13 at 10:11 am to
quote:

My question: if I was able to co-sign


Do not do this under any circumstances.

quote:

Are there any other options?


Pay off the freakin' loan or sell the freakin' car and take the loss.

quote:

I've also thought about putting the car in my name to bring the rate way down.


Yeah, if your bank will finance it as a private sale, you can buy the car from her - then let her continue driving it.

However, rather than throw good money behind bad, I would take the loss - did she do something stupid like finance for 60+ months?
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