by JessG » Tue Sep 25, 2007 8:01 am
are you sure it is toyota you'd be surrendering it to? just like when you purchase a house, it is not typically the last owner in this case the maker who holds the title while you pay it off. the lein on your car is most likely held by a bank. and your bank doesn't want to reposess your car more than you want them to they'll lose money on the deal, also.
how much do you still owe on your car loan? as well, how much is your car worth right now? if it's worth less than you owe, it'll most likely be easier on you to sell it and get a loan for the difference. but if it is worth more than you owe, then you may be able to sell it, pay off the loan, and have some money left over for another [crappier car. not the happiest day of your life, but you will feel lots better after it is done, right?