Advising a friend.

[Micjones]

Originally Posted by Mile High Mania

A Ford what?

She should see what the KBB value is... likely extremely low, less than $5k. Go to a place like CarMax... get a quote for what they would give her. And, then try to work something out to where they pay the note, take the car and then roll what is owed into a payment towards another vehicle.

She'd be upside down in a new loan.
I doubt seriously that the car is worth a fourth of what she owes on it. She would be carrying over thousands of dollars onto the next contract and would have to put thousands of dollars down to make that work.