Hey I really need some advice!!

[Eat-um-up]

Well this isnt porsche realted but im in a jam.I bought a 2001 VW Jetta Wolfsburg addition a fiew months ago. Well my job is all but gone and i cant pay the freeking bill anymore. I owe Vw just a little less than 20,000. All i know is to try and sell it. Are there any other ways out?? I mean without breaking the lease and having to fork over 14G??? This is the first new car i ever bought and now im a bit screwd.. Any suggestions?? Think i might have a good chance selling for 20,000???

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Sweet Blue 72' 914
Check it out at
http://www.geocities.com/eat_um_up/914.html

[campbellcj]

Sorry to hear about the job situation - that sux.

You may be able to get somebody to assume the lease, basically just pick up where you left off. I don't even know what's involved in selling a leased car but I figure it is a bit tricky. You'd have to get the money from the buyer, pay out the lienholder and get the title, then transfer the title to the new buyer.

Good luck!

Chris C.

[Rouser]

The problem with financial situations like this is, you're not gonna like the advice you're gonna get. Time for a Fire Sale.

1) Sweet Blue '72 will have to go on the auction block to save the VW deal (and your credit/primary-transportation). Sorry, but when you owe, you owe. If somebody's been eyeballing your ride, then start courting him or her now, or start working the classifieds. Hand-over whatever you get to VW Financial, and ask to work out some breathing room.

2) If you chose to dump the VW, there's no "profit potential" going to be made. You're totally upside-down on the lease (or loan) any way you look at it, and you're probably behind on the payments too. ANYBODY looking to assume the lease/loan smells blood in the water, and will be looking for the Deal Of The Century (read: your loss, buddy). You're effectively eating ALL the losses i.e. no money in your pocket. Afterwards, don't expect any new cars in the near future; financial institutions don't lend/lease to guys named "mud."

3) If asking "Will there be fries with that order?" will help you keep EITHER the VW OR Sweet Blue '72 (sorry, not both), than THAT'S what you have to do. Unemployment compensation shouldn't be considered for what are considered "luxuries."

It all depends on what you're willing to do.

[Eat-um-up]

Thanks. So far im on the ledge of this job that allows me to pay for this stupid thing. I dont care for a profit on this car. i just want rid of the dumb thing. If i could get rid of it and still have to pay for a while cutting the payment now in half i would!! and at this point i dont think i will ever buy a new car again. But Blue isnt goin anywhere... I screw my credit first

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Sweet Blue 72' 914
Check it out at
http://www.geocities.com/eat_um_up/914.html

[WOODPIE]

Hey, I sort of hate to stick my nose in here, but you asked for it. Rouser gave you some good thoughts and options, and it is pretty much cut and dried. I and a lot of the rest of us know what kind of emotional attachment can be made with a car, as totally stupid as that is, but this is a time where emotions and $.25 won't get you a cup of coffee. Throw that out the window.

Do anything, anything, moral and legal, to NOT screw up your credit rating. You might FEEL that Sweet Blue is your life's blood, but it's those dead presidents that make life easier and more fun. Besides, there will always be another 914. I read that somewhere.

Ed

[Rouser]

WOODPIE's pretty-much gotten the gist of it. This country operates on a system of credit. If you ain't gots the money, there's someone willin' to lend it to you; for a price.

You got in way over your head, but you're obviously not willing to sacrifice anything (read: feel pain) to rectify your financial situation. With that, all I can say is … Good Luck.

[This message has been edited by Rouser (edited 07-11-2001).]

[Eat-um-up]

Rouser and Woodpie, Yeah i Did ask for it and beleve me I am more than greatful. And you are both completely right. I hear what your saying as well. reason being for not getting rid of blue is that its cheaper for me to maintain than the Jetta. That and Without a car I cant go to work.. Well you know how it goes. for now makeing payments is no big deal. It just may become one and im exploreing options in case of that disaster. My big wonder was if there was a way to rid myself of the car like returning it or something.. if something happens 300 dollar payments could be a real pain.

Thanks again fot your Input!!
P.S. I have no problem asking if you would like fries with your order

[This message has been edited by Eat-um-up (edited 07-11-2001).]

[This message has been edited by Eat-um-up (edited 07-11-2001).]