easy there guys...we don't know he has no job. we don't know how old he is. we don't know how lazy he is...

We really don't even know his full situation. He may have been sheltered from the "real" world, but tell him his options to help him. I don't think I'm sheltered, but I never heard of a co-op program to help pay for stuff....please elaborate and try and help.

noel

 

hes 19

prolly owes more than 5k.... depending on what his interest rate is.

 

so he's still fairly noob. let's just give him some options and encourage him to do what's best.

 

I used to repo cars for Daimler Chrysler. That is to say I approved the repos, didn't actually go out to get the cars.
I can tell you that a voluntary repo is just as bad as any other repo. Here is what will happen.
Either repo you'll be sued for whatever amount is till left owing. They will sell the car at an auction and will take the best offer that day. If you owe 7k and they sell the car for $4k, you're going to be sued for that difference.
Voluntary repo only saves the repo charge of $350.

Talk to the bank and let them know what kind of financial trouble you're in.. tell them you'd like to keep the car and work it out.

Do not do a voluntary repo.. it will ruin your credit and you'll still pay for the car......

Good luck!

CS

 

I'm going to college part-time (3 classes) and I work full-time. I'm also married with one child (8 years old) and we're expecting our second one December. We're making car payments, rent ($800) and not to mention other expenses.

I don't see why you can't find any job to help you keep the car.

 

If he's 19, he qualifies for a job. I'm not going to help him search for jobs(and that's his only option so far as I am concerned), he can do that on his own time, Noel. If he wants to ruin his credit and lose his car because he doesn't have the work ethic or wants people to feel sorry for him, oh well. Another one lost.

 

dude, u're 19 or about too, so go get a job and work for the car. I got my car when I was 18 and Been working my a** up for it for 2 yrs already. I spent all the money for it myself, kit, rims, swap, full coilovers, etc. It's not that hard to find a job. BTW, i go to college full time, 18-19 credit hrs/semester, and I stil have time to work, and have fun. Time management is what you need bro. Sure, dady lost his job, but it doesn't mean the end of the world, (sound so dramatic). You've been around here kinda long, so you should know and learn enough. It's time to grow up.

 

a co-op job is when you take a semester off from school and work a job in the feild you are studying. the school i went to has a 5 year program. you get paid decent money. i also kept my part time job while doing this too, working 6 days a week for a long time.

i had a job 1 month after getting my license at 16, didn't to extra curricular activities and all that other bs schools want you to do. i'd rather make money. this kid is 19 i guess from what everyone says, it's time to earn his keep.

 

I've had to have a job since I was 15. My parents never payed for anything.

 

thanks for the reply guys, but i dont know if trying to pay for it is a good idea. My payments every month is 389.33 dollars and i still have 45 months left, which equal to about 17k dollars. I had no credit to begin with, so they forced a shitty 10.6% interest rate on me, which made me pay so much.