What to do overpaying on car that needs repairs?
I have problems with credit I went with subprime auto loan I drive a old car that 2000 ford i was financed for $8500 I Kanin that is extremely expensive but I had bad credit now the car is giving me problems I don't know is the car worth fixing it's so old plus I'm overpaying for it it needs a new windshield and rear brakes? Rotors calipers and brake pads that cost $600 I'm tired of putting money in this car I know I paid 8 times what the car is worth if I had bought from a person I want to finish paying on the and car save money I don't travel much just use car for groceries and errands twice a week I take public transportation to work to save on gas money I'm on a tight budget this repairs would put me behind is it even worth repairing or have i put enough money into this car
Wow I'm not sire
Even sub-prime lenders have restrictions of the age of vehicles they will finance, they don't usually finance anything over ten years. There's not much you can do. You have to pay the loan back as agreed, so you may as well fix it and use it if you have the cash. Next time check out the value of the car before you buy it, sorry, hard lesson here.
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