whats the option if you dont pay it off in one big chunk? Usually they hit you with a good sized interest rate and then make you pay out the whooohah. Is that an option until you can figure something out?

You should be able to talk to the bank and arrange payments. I personally have never heard of a loan that makes you pay it back in a 1 lump sum. They should be able to work with you on making payments. Granite you may have a rediculous interest rate but still, it'* worth it to keep your Bonne.

what about refinancing the truck. That would give you about 30 to 45 days extension from a payment being due and it may lower your monthly payments unless your credit sucks.

Yeah, go to the bank and refinance your loan. Or go to another bank and get a different loan to pay off the 3K one, but get one with payments instead of a lump this time.

When I bought my 91 SSE I used a cd as a secured loan and only paid interest payments quarterly and then when the loan ended I could either pay lump sum or let them keep the money from the cd. I chose the latter of the two. I did it that way because I was still earning interest on the cd during the loan. You may get a higher interest rate if the loan is under 5000 but if you need a quick fix that is the route I would go.

can you have them just take the truck over the bonne?

Good point, the truck'* worth more than twice the Bonnie'* worth

I can't understand why you even think you can see the truck. If it'* your parent'* truck...first that'* just not ethical, and second, there'* going to be an issue if it'* in their name.

:?
My parents WANT to sell it

You are telling us two things as shown here:


Now, that being said, just cause you put money into a vehicle by putting gas and insurance on it, you should not have ownership rights. Those things do not increase the value at all. Second, any improvements and stuff you made is not accountable either. I assume they bought/had the car for you to use so that you didn't have to buy a beater/ or get mired into a loan when younger. That'* what my parents did. While it was "my" car, they owned it and their say went.

As for your current situation you can do one of a few things: Talk to the bank and get onto a payment plan and start paying, talk with your parents again, or, if it comes to that, put the bonneville on ebay, since you do own it, and try and get as much as you can for it, maybe more than the loan. It'* not the desired outcome, but it beats having a repossession on your credit. Since it seems you have access to the truck to use, drive that for a while until you work something out with the parents, or save up enough for another bonneville.

Keeping the car is not worth damaging your credit in my opinion.