Wednesday, 30 December 2015

How to handle late car payments

If you foresee that you might miss your car payment, take these steps to ensure that things don’t end in disaster or repossession!
Step 1 - Tell your lender
Your lender is likely to be lenient and help you to work things out so that they don’t lose their investment in you!
Step 2 - Find a solution
Work together with your lender to figure out how best to settle the issue of non repayment in a way that works best for both parties.
Step 3 - Make restitution
Once you’ve got a solution, get it done and executed! The faster action is taken, the faster the problem goes away!
Worst case Scenario - sell the car!
If you can’t find funds anywhere else, selling the car is the best way to bring the issue back to square 1.
Don’t worry too much if you miss your payments. As long as you are genuine and committed to rectifying the situation, things will work out in a matter of time.

How to handle late car payments