I have a car that is worth less than what I owe on it. I have about three years of payments left on it, and I have serious doubts about it lasting through the winter, let alone for three more years. For reasons that are too complicated to get into here, I can’t trade it in, either. Basically, the dealers have told me I’m stuck.
I’ve thought of four possible ways to get rid of this lemon, all of them bad.
Arrange to have it “stolen.” Major prison time if I get caught, and even if I don’t get caught, my insurance rates would skyrocket.
Arrange to have it “totalled.” Again, illegal and detrimental to my insurance payments.
Drive through the 'hood and hope somebody carjacks it. Not illegal (on MY part), but definitely dangerous, and again, expensive (from an insurance standpoint).
Call the bank and tell them it’s theirs if they want it (voluntary reposession). Costs me nothing, but would permanently damage my credit rating.
Anybody else have any ideas?