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Is there a way OUT of an Auto Loan When my Car needs $4000 in Repairs?

Dec 07, 2006 by Marquez B | Posted in Maintenance & Repairs

Ok here's the scoops: I own a Jetta that until recently ran fine. In the past 2 mos. it's been in the shop and I've paid over $2500 in repairs. Now it's basically busted again and the engine needs replacing which will cost $4000. I've had it checked

so sorry - you are on the hook

you can't sell the car for the balance - because of the repairs
and the only way to forfeit the loan is a repossession -
...then the finance company can sell it for what they want - AND

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