I had purchased a new car and then was laid off from my job. I have since been hired and am working at a good job. However, I am not getting paid as much as before. I can not afford the car that I purchased and I am pounding my head against a wall as to what I can do about the car before it gets repoed. The car is not worth as much as I owe for it because it was involved in a hail storm last summer. I know that I can not be the only person in this position. Is there anything I can do?
I am not sure if I can do that or not, but that is an option. I am not sure if I could get any financial institution to refinance when the car is not worth what I owe on it.
