Saturday, February 4, 2012

How can I get out of my Toyota car loan?

I would like to know how, if possible, I can get out of my Toyota car loan. I am about 6 months into my loan and find it ridiculous having to pay more than my Camry is worth NOW after the recall. It isn't affordable.



Can anyone guide me if possible?How can I get out of my Toyota car loan?Find someone willing to buy the car for your pay-off is the only way unless you have the $$$ to pay it off in the bank. You cannot simply walk away from the loan. They own you, well at least your SS# till the loan is paid. Don't even think about trying to have your car stolen either. That doesn't pay-off the loan. They pay-off only low book value and you're stuck with the balance. I've seen some people do that only to have that surprise.How can I get out of my Toyota car loan?You can't "get out" of a loan. You have to pay the loan off. It's worth less than is owed, so you can't sell it or trade it in. Looks like you're stuck.

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