Is it worth getting this vehicle released from repossession?
I have a 2004 Dodge Stratus SE with 125,000 miles. I still owe about $8,000. Then car has not been running for about 3 months because it needs a minimum of $2000 worth of work (timing belt and possibly new transmission and or engine). I hate to let it go because I do not want the Repo on my credit report (credit is not the best as it is). I haven't been making the payments for about 3 months because I have been trying to save up to fix the car. I discussed this with the finance company and they agreed to submit a request for a deferment on Thurs. I understand this is not a right but an option. They repo'd the car on Sunday anyways. Is it worth getting it out of repo? or should I just let it go and buy another car cash or cheaper car financed??
it never a good thing to get something repo, it will seriously hurt your credit and make it harder to buy another car
i would work with what you have, try to get it fixed
if you buy a car in cash, then whos to say that car wont need to be fixed? and finding a desent cheap car would be hard condersing you have a repo on your credit now and you said it wasnt great from the start so your interest would be thru the roof so its like a catch 22
theres always going to be two things in life, a car note or a car repair bill.
