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Car Repo’d & Cant Keep Up tbh

Reddit r/personalfinance·u/Fair-Heron9938·about 1 month ago
#oOWBFxNj
#miami#repo#enough#rising#article#discussion
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Car Repo’d & Cant Keep Up tbh So my car got repo’d recently. It’ll be about $3k to get it back. I can come up with that money quick enough. But overall, keeping the car means at least $1200 in monthly bills between the note, insurance, rising gas, and parking in Miami. My car loan balance is just under $15k. My 2019 Mazda is in pretty decent shape. Some cosmetic issues but I just got an oil change days before this, and I got new tires 5 months ago. Jiffy lube tech even said my car mileage was impressive for the year. Still I understand the sale of the vehicle will be well below market ($5k at worst?) I’m debating whether to let the car go to auction and I cover the remaining fees. Whatever those fees may be. I’m truly overwhelmed with the cost of everything, especially living in Miami. I’ve read some other threads and will consult a bankruptcy lawyer soon enough too. But I wanted to see if you all might be able to provide some insight on the effects of essentially letting this car go.…

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