Why should I pay my car loan?

Considering:

That I financed my vehicle

That I have invested $200 so far

That the price of my vehicle has just been lowered by $2290

As a protest I am wondering if you can give me some good reasons why I

shouldn%26#039;t:

take the monthly payment out of my account

Let Toyota reposes the vehicle

Write a blog and letters to the editor about what I am doing and

why encouraging others to do the same

And finance/buy the same vehicle for a $2090 less and/or

finance/buy a competitors vehicle

Why should I pay my car loan?

you can certainly do that but they will destroy your credit score.

Why should I pay my car loan?

huh?

Why should I pay my car loan?

Beat the hell out of it and let them take the piece of crap back.

And blow the engine!

Why should I pay my car loan?

Cars always go down, as soon as they are bought of the lot, no taking that back. You signed a contract so you are stuck, if you do not pay they will take the car and you will have bad credit, which will make it close to impossible to get another car loan again.

Why should I pay my car loan?

see that you get the additional rebate from them .

Why should I pay my car loan?

Your agreement is legal at and from the circumstances at the time of agreement and the future price of the car will have no bearing on this in the eyes of the law. You will be wrecking your credit rating for no good reason and making it less likely that you will receive credit in the future.

Why should I pay my car loan?

having your car reposessed is NOT good for your credit...like bankruptcy!

if you do that no bank will lend you $$ to finance another car.

all cars depreciate in value once they are taken off the lot. Cars are not an investment....like a house is.

so just pay your bill...and be happy you have a car.... and next time try to bargain a little better at the dealership

Why should I pay my car loan?

are you kidding? please say you are. why the heck do you want to ruin your credit over this? ALL cars and i mean ALL new cars lose value the minute they are driven off the lot. Toyotas are some of the best cars you can buy. you can go 200,000 miles without a problem

Why should I pay my car loan?

You lost more than $2290 just be driving the vehicle off the lot.

Gather it up, bucko, keep the car and make the payments. Repo%26#039;s on your credit report are huge hits.

Why should I pay my car loan?

Because you signed a legal contract and you are obligated to pay for it and getting repoed would only worsen your situation.

Call and talk with the seller and see if they will do anything, they probably wont but you wont know until you try.

Why should I pay my car loan?

Are you kidding?? How is NOT paying your car loan going to be helpful? You are shooting yourself in the foot by doing that. The manufacturer already got their money the minute you signed the loan papers to begin with. They don%26#039;t see a penny of your monthy payment. That%26#039;s the banks problem now.

If your cars value has dropped 2290 since you bought it.....JOIN THE CLUB! It%26#039;s called depreciation.

You didn%26#039;t state what your $200 has been spent on. My guess is that is was a service problem that could have been avoided if you had a mechanic inspect the vehicle prior to delivery.

If you let the car go back, you wont have the chance to buy a competitors vehicle...you wont get approved 2 days after a repo.

Why should I pay my car loan?

Pay your bills. That $2090 is nothing compared to the extra interest you will be paying on ALL loans when you mess up your credit with a REPO. Heck, if you don%26#039;t have much credit established now....you might not even get another car loan for a while if you have a REPO on your record...

Suck up the fact that cars depreciate in value and enjoy the car for the reasons you bought it.

Why should I pay my car loan?

Sounds like %26quot;buyer remorse%26quot; to me.

Why should I pay my car loan?

I know The right thing%26quot; has gone out of style, but you did sign a contract and gave your word. It%26#039;s sad doen%26#039;t mean anything any more.

Why should I pay my car loan?

Todd

you bought a NEW car and you paid the Suggested Retail Price for it. I know it blows to know that the car you just drove off the car lot depreciated in value that much the moment you signed the payment agreement. However, you DID sign this agreement and you are obligated to abide by it. Otherwise, within 3 months of non payment, some big burly guy named Cooter is gonna come with a tow truck in the middle of the night, load it up, and haul it off back to the lien holder (person or company that loaned you the money to buy the car). Which in turn, is gonna shred your credit score to ribbons

If you want to fix this situation, pay on your car for one year solid doubling up on the first 4 payments. This eliminates your negative equity in the car keeping you from being %26quot;upside down in the car%26quot; (meaning you owe more on the car than you can sell it outright for). Then you are free to do a trade in and purchase what I recommend as a like-new car. I never recommend anyone buy a NEW car. Like-new cars are cars that were temporarily owned by a previous owner but have less than 1500 miles on them. They are sold without the high overhead and retail value to them. They are also still under factory warranty and no one can tell that its previously owned.

So next time you make an auto purchase do more research into it.

Why should I pay my car loan?

You signed a legal and binding contract saying you would pay for the vehicle. If you decide to not pay for the vehicle and allow the bank to take it back...not only will it ruin your credit but the bank will in turn sell the vehicle for whatever they can get out of it and then put a judgment on you to pay the difference of what the loan was for and how much they sell it for. Believe me they don%26#039;t push to hard to get the best price out of it either. My brother had a vehicle that the bank took back because he was laid off and couldn%26#039;t make the payments. The bank took the vehicle, sold it for $2100 less then the loan payment and then put a judgment on my brother to pay that $2100 plus court costs.

My suggestion is to either get your act together and grow up. Depreciation happens to almost everything...that%26#039;s LIFE!!! If you don%26#039;t want the car anymore try to find someone to take over the loan or sell the vehicle for what you owe on it.

Why should I pay my car loan?

If you do that you they would sell the car and still sue for the balance on top of it. Sell the car to carmax and pay the difference

Why should I pay my car loan?

Because you are contractually bound to fulfill the terms of the agreement you did sign. If you let them repossess your car, it could prevent you from getting another loan for several years (that%26#039;s called karma). Even if they repossess your car, you will still owe them the money. Is that enough reasons for you?