BryceStrong

You wouldn't owe anything but it's a devastating hit on credit. If you want an easier search, call up a lot of dealerships and ask for a buy-bid (essentially what you just did with your dealership). They'll give you an over-the-phone appraisal based on your description of its condition. I've done buy-bids on cars with dealerships as far away as Florida, so don't limit your search to just Atlanta. Find somewhere that's convenient and gives you the best price, then just sell it to them and expect a hit. Remember, as long as you sell the car, you WILL be in a better position than a repo.

SIHHR

We had an issue a few years ago where my father Lost his Limo business due to 9/11. Especially since it was a NY/NJ business. Less people travled to the airports for a long while.

Anyways. They Repoed his car. The car was sold at an auction. However your still responsible for the loan difference. If your Loan is 23K and if the car does get 17K. Your still in the hole to pay back 6K. That's how it works. I forget how much of a loss we took. But I know since 2001 we still pay 200 bucks a month to chase. I think we have another year to go. Plus my Dad passed away last year and my mom was still suck paying off his debt. It will be a bad mark on your credit. Look you have to be postive. I lost my job in April. It took me 3 months go get a new one. However between unemployment and my tax refund and some temping work I was able to survive. JUST BE POSTIVE. I recently took a job offer making much less then my old job. But I needed benefits asap. I know in a few months of hard work I would move up the ladder. I'm underpaid and overquallifed for what i'm doing. However there is plenty of room to grow. I'm going to stick around for a few months and see what happends. So stay calm. Be postive. Check out craiglist, monster.com email friends. Do plenty of networking and i'm sure you can find a job. Do not give your hopes up. I know how you feel.

James06

What line of work are you in? Maybe someone reading these posts needs exactly the kind of experience you have. The best advice I've seen on here is to pray about it if you're a praying person. The rest of us can help you with that.