Re: voluntary car repo
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Posted by David Murray
on March 04, 2001 at 21:27:33:
In Reply to: voluntary car repo posted by Dan on February 04, 2001 at 07:05:43:
I'm confused as to why you can't simply sell the car for $8200, use that to make a substantial part of the existing payments and then pay the rest out of your salary. $8200 is roughly 75% of the debt - wouldn't that mean reducing your car payments to roughly one fourth of what you're currently paying (either by saving the $8.2k or using it to pay off the debt, depending on your contract) plus whatever your company would require you to make?
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