Need help on if I should let the impound lot keep my car.

[angelgolden]

Car was loaned at 23k. I think I only have like 8 months left till the thing is paid off..

~~ general Depression, tried to end it, blah blah ~~ fell behind on all my bills, car got repossessed, but j kept my apt.

Car didn’t have insurance. And was in a bad car accident. Will cost about $2300

~~ general Depression, tried to end it, blah blah ~~ fell behind on all my bills, car got repossessed, but j kept my apt.

Paid $1.3k ish to get it out of the impound lot but i never got it out of the Lot because i lost the job.

Have a decent paying one now. Called and omg Daily storage fees…

To get it out of the impound lot will cost $5500 right now as of today and I don’t have that.

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My monthly bills are $1618. Didn’t account for food, gas. Walk to one job 3 days a week.

Working 6 days a week, I could bring home about 5418 take home a month

At $40/ day in storage I’m not sure what to do here. I reading want to keep the car. If I didn’t have any B savings, why would I be looking at?

This is a 2017 vw gti and I love the car . Have a beater right now and my golly it needs work rn but it runs and drives so I’m blessed with that and hope nothing bad happens to it

Advice please

 

[nibru]

@angelgolden Since y-ure so close to paying it off I’d probably get it out the lot asap and see; the car

 

[queriesrus]

@angelgolden Well at this point you’ve really got two options.

One, you can pay the impound fees plus whatever it will cost to make it roadworthy again plus the remaining eight months of payments.

Two, you leave the car where it is and continue to pay on it until it’s paid off. At that point the title will be in your name and you can sign it over to the tow company. They keep the car in exchange for your storage fees. So you don’t owe anything but you also don’t get the car back.

But either way you go I think you’re going to be stuck paying those last eight months.

 

[reginap]

@angelgolden a impound lot is like a payday loan, pedatory