I am selling my car and have to pay 8k$ on loan after the resale price. I am travelling outside the country and won’t need the car for 1.5 years. I thought about voluntary surrender but I have my sister as a cosigner and I don’t want her credit to be impacted. I was thinking of deferring payments by 6 months. I can afford to pay 8k but my heart doesn’t want to.!!! What are my options?
That would be a pretty crappy thing to do to your sister in my opinion. My stepdaughter did that to us after she wrecked the car and my husband’s credit was shot. You need to find a way to pay for the car.
Wow cars go down in value, You’ll have to pay the $8K or file bankruptcy, you don’t get a free $8k, I hope this helps you not finance new cars in the future