i made an exchangment on a ford for a chrysler 300 and they added -10,000 on to the...

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15diva

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...new car? i didn't know about the $10,000 untill i looked at the contract 6 months later so i currently owe more than $30,000 because the dealer ship didnt mention the negative $10,000 they added i called the finacial office to try to get a lower monthly payment but they just told me to repo the car i wanted to repo the car but they told me they were gona sell the car in the auction and that i was gona pay wat was left over so if they sold the car for $20,000 i was gona pay more than $10,000 any advice on what i should do will be helpful-
 
The dealership added the negative equity of you old car on to the new loan. I am surprised they loaned you 10K over the value of the car to begin with.

Some bad news, what they told you sounds pretty accurate. They can and will do exactly what they said. More bad news, you started out 10K upside down in your new car. Your car is likely worth MUCH less than you paid for it. It will also be sold dirt cheap at auction. 5-10K would be fair wholesale at auction. That will leave you owing 20-25K on the car.

The car is collateral but it doesn't relieve you of any obligation to pay the loan in full. Always read the contract BEFORE you sign it.
 
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