Car not working
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It depends is it under warranty? If you just stop paying you get yourself in financial trouble, it will show as miss payments
Legally you have to continue to pay.. even handing it back can sometimes leave you with money owed. What is the issue? Is it under warranty or is it your responsibility to fix it?
It sucks, but you still have to pay if you still have the loan. Defaulting on a loan will ruin your credit. There might be other options like selling it or using gap insurance. But it's still your responsibility to pay.
If you got the car on loan then you still owe the money whether it's working or not.
@Emma The person’s responsibility to fix it. He has the money to do it but chooses not to.
We’re in this situation now. Our transmission blew on a van that were leasing and we still have 9 months left on the lease. It’d cost 4000 to fix the transmission we’re not fixing it, but If we don’t pay the car payments on it my husband credit will be terrible. We haven’t been paying the insurance on it but still make the car payments.
Even if it gets repoed you still owe for it, I would pay it off
Why are 53% of people saying no 🤦♀️. Please don't listen to that advice unless you want to have a 300 credit score and never be able to finance another car or buy a house
You legally have to. Your credit will be fucked if you don’t. My husband’s car needed a new engine at only 5 years old while we were still making payments on it but we couldn’t afford to replace it with anything similar for less than the $10,000 for a new engine so we put it on the line of credit and got it fixed. Car is finally paid off now but we’re still paying off the new engine. Cars are absolutely a waste of money but unfortunately where we live they are a necessity. I don’t think we’ll be buying another brand new car though since they keep making them more expensive and less reliable
Is the person responsible paying the finance or are you?
What do you mean the person's responsibility to get it fixed? If it's your car and it's not under warranty it is your responsibility
Unless you want to tank your credit score and then have to spend years fixing it to a point that you can do anything again. Remember atleast if you are in the US you likely need to run your credit for an apartment, a car, mortgage, I’ve had utility companies want to run my credit. Sell the car if you can, get it fixed if you can’t but you’ve got to pay on it. The bank doesn’t care that isn’t not working. If it’s been under a certain amount of time look up lemon laws in your state you might be able to get out of it but until then you have to pay
@Kath Not my car, my spouse’s car. But it has been sitting in the driveway but he is still paying on it. He has the money to fix it but hasn’t. That’s why I asked the question.
If it's under warranty and you're waiting on the dealer/manufacturer to fix it then you should be able to freeze the payments/claim the money paid whilst the car was unusable back! We had our car go in for a recall and it ended up in the garage for several months, we were provided with a hire car, received all our monthly payments to the finance back and also a compensation amount for the inconvenience! This was all for a new car which was on PCP finance though, so totally depends on what your finance agreement is!
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@Emma The person.
If has the money to fix it, and still pay the finance more fool him… obviously doesn’t need it
Oh right that explanation makes more sense, I'd personally leave him too it it's his money he's wasting, but it seems pointless to paying for something you aren't using
Accidentally pressed yes but I wouldn't pay for a car that's not in use definitely a huge waste of money