Can’t Make Your Car Payment? Just WALKAWAY

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Auto Loan Daily - Can't Make Your Car Payment? Just WALKAWAY

Can’t Make Your Car Payment? Just WALKAWAY
By Ross Edwards
Tuesday, 03 February 2009 10:55


Say you’re a responsible car buyer. You bought within your means. Your payment is only 20% of your income. You’re up to date on your payments. You’ve done everything right. But now, due to no fault of your own, your job has been cut, leaving you with no way to pay your car loan. What do you do now?

Unfortunately, this is the predicament many Americans are finding themselves in. Unemployed with a car payment, there aren’t many options. Most people owe more on their car than it’s worth, so just selling the vehicle will leave them with no transportation and the remainder of the debt. This is not a great situation. You’ve worked hard to build and maintain your credit, so repossession is out of the question. So what can you do?

A new program is being introduced in America that will provide an answer for consumers facing this tough decision. The WALKAWAY program allows you to return your car if you lose your income. With WALKAWAY protection, the dealership will buy your car back, and if you owe more money than the car is worth, the program will cover the difference. Although the program is not yet offered nationwide, it will be soon.

Dealerships often get calls from customers saying “I can’t make my payment, what do I do?” Now with the WALKAWAY program, the dealers can just say “bring the car back.”

Many people are afraid to take out a long-term car loan because they’re uncertain about their employment future. With news of more job cuts coming every day, it makes sense to be cautious. With the WALKAWAY program, you can buy a car without the fear of what will happen if you’re suddenly unemployed.
MORE.

[American Psycho]

walkaway, pay for that mortgage instead...

why buy a "new" car anyway, if you know the job might not be there...

only jobs are not going away,

funeral people, garbagemen, and rescue personnel

[Inspector13]

Anything medical. I make silicone medical supplies and the company I work for is doing excellent. We are constantly hireing new people, opening new plants around the US as well as we are getting a bonus of 10% of our gross income this year.

[Magnusen]

I work for an alchohol distributor (K&L) I'm a little worried, but, one thing that people do when times are good OR bad is drink... I'd be surprised to find out that this program doesn't cost you anything on your credit

[01mmmz28]

The military towns like the one I live near are not at all affected by the current auto dilema that the rest of the nation is feeling. We went out car/van shopping and the dealership lots were flooded w/ Marines and Navy dudes looking to spend that re-enlistment bonus or spend that 9 months worth of war deployment pay. Hell, the 3 chevy dealerships in our county filled ALL their pre-ortders for the new Camaro in less than 3 hours...lol. They can't keep a vette on the lot. The dodge dealership can't keep challengers and chargers for very long......and Yes, the Ford dealership sells mustangs like McDonalds sells burgers.