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Chrysler Capital


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I just deleted the post. But I will ask the question with out going into details....

 Someone is behind on the payments on our 2014 Journey. Looks like a payment was not made on 8/18/16. I don't think she will be able to make the payments. The car is in my name, but the note is in both our names... A car worth now $10,000 that we still owe $23k on it. I guess it has at least 65k miles on it or more. IT is the 4 cyl model.

I still pay insurance on it, so I wont get hung out to dry if she wrecks it

 

Will Chrysler Capital refinance the car in my name only if I take possession of it? Just let them repo it and take the hit on my credit.

This is Just a financial question, not a emotional one. 

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I second that advice - if you contact the finance company they may be amenable to an arrangement - if they come in and repo you can be certain your various insurance and credit instruments will be negatively affected (and your insurance and any interest rates go up).

Edited by bramfrank
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  • 7 months later...

I know this is an old thread but in case it could help anyone out:

 

In 2004 when I was young and dumb I took out a car loan with my parents as a cosigner. I knew I could afford the payments but of course I spent more of my money on gas and driving with friends etc. I fell two months behind and I told my parents I didn't think I could afford the car anymore, they basically said tough S***. So I called them myself and asked what options I would have. They were actually really understanding and they agreed to re-finance with the current balance, which lowered my payments pretty significantly. It was a 2000 chevy cavalier, which was worth almost nothing when I called, and I still owed about 6k on the loan. When they re-financed they also gave me a two month grace period and that gave me a chance to save up some money as well. Trust me, they are willing to work with you more than you'd imagine. 

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