You said this only happened a couple of years ago. The problem is if he's only been making minimum car payments on a brand new truck odds are that he owes more on it than it's worth. So even if you sell it you can still end up at a loss.
My husband went through a similar thing when he bought his first vehicle. He was only 18 and was told that he could bring it back anytime.(Big surprised, the dealer lied to him.) Well, he got a few tickets and decided he didn't want the $17,000 truck he bought anymore. He did a voluntary reposession and they auctioned the vehicle for about $10,000. Minus the payments he had already made he ended up still oweing about $5,500 and NO VEHICLE to show for it!!! After we got married I had to fix his credit which was a big mess and they wrote reposession on his credit report even though he voluntarily brought it back.
If I were you I would at least call the bank and ask for some facts and figures about how much he owes, what is the 14 day payoff, etc. Then I would go to KBB and find out how much the vehicle is currently worth.
Good luck. If anything you sharing your story will help other girls who might be reading this and considering doing the same thing you did. Please girls, don't get financially involved with a man unless you're married to him. Even when you're married, still keep your own savings account and at least a 401K just in case because anything can happen. And one last thing... if anyone can't afford a loan then they simply can't afford it and should go for a used vehicle of less value.
I hope everything works out for you Gina. Try to get out of this situation asap so that you can go on with the rest of your life without any ties to this man. |