Upside Down Car Loans
An upside down car loan is when you owe more on your vehicle than it is currently worth. This can happen for a number of reasons, including negative equity from a previous loan, excessive wear and tear, or depreciation.
If you find yourself in this situation, there are a few options available to you. You can try to negotiate with your lender for a lower payoff amount, refinance the loan at a lower interest rate, or sell the car and use the proceeds to pay off the loan.
Each option has its own set of pros and cons, so it’s important to weigh all of your options before making a decision. No matter what route you choose, getting out of an upside down loan can be a difficult and time-consuming process.
The Law Offices of Omar Zambrano has helped thousands of the people and businesses on the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706