What should I do about my 2004 Mazda?

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msechari

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I have a 2004 Mazda Sports-wagon. The brakes are currently out in the vehicle but can be fixed. It is financed and I am behind $1,700 on the car note bc I had a roommate bail on my and I couldn't balance the car note and rent at the same time. My monthly car note is $530 and I just do not want this note anymore. I've had the car for over a year now and I am debating on giving the car back to the company. However I don't want to screw up my credit. And I need a car. I could just pay the money I owe but then I'll be stuck with a car note I don't want or I could give the car back and look for a used car with no note. Any advice?
 
Actually, what you seem to want to do is often doable. Dealerships aren't stupid, and if you go in and talk with the general manager you may be able to arrange them taking back the vehicle, IF you have not damaged nor abused it. I managed to do that once many years ago.

But keep two things in mind...most dealerships are feeling the economy crunch too, AND it is the finance company who has the financial interest in your car. The dealer already got paid for your car, unless they somehow "in house" financed it for you.

However, it is worth a try, it may work. Your credit report already reflects 3 months late on payments though, your rating already dropped...sorry.
 
My advice is to rent a room close to your job so you don't need a car until you've got some bank savings. Cars cost alot to maintain and insure. Why not just walk to work?
 
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