How to get of a car loan - Court Forum

kej2009 · #1 (**permalink**) 06-09-2009

What is the name of your state (only U.S. law)? OK
What can I do in in these circumstances:
Told a year ago car's engine is failing. Car is under a loan. Less than half paid. Car insurance does not cover mechanical failure. Loan department told me I would have to carry full coverage insurance throughout the remainder of the loan regardless if the car was deemed undriveable. (2=years of car payment +full coverage insurance)
Couldn't sell the car in good conscience to a private owner knowing the engine would eventually fail.
Have been driving it ever since with no trouble.
History: A year ago, I took my car in for a oil change and mentioned noises heard while driving. They changed the oil and investigated the sound. They could not find any sound or trouble and recommended a tune-up. 3 months later, I requested an oil change and check-up since I would be leaving for a road trip the next day. On my trip, noticed the same sounds as before and checked fluids. Oil was extermely low. Returned to the dealership. They promised they put oil in the day before and investigated the engine. Told me engine was failing and offered to buy my car for less than half its worth/ half the car loan.
I could not afford to give up my car and still be paying for it.
Now, a year has passed. My car runs normal. Still requires more oil than usual. Mechanics at other service centers have told me the car is running well.

Several people have wanted to buy my car in the past, but I don't want to sell a car that could possibly break down on someone . The dealerships are just going to buy it ANd then turn around and sell it to someone without warning about possible problems.
I have been laid-off and need to get out from under the loan. What can I do to legally protect myself in the sell?

LegalGuy · #2 (**permalink**) 06-15-2009

I don't see what legal grounds you have; you are abind in an agreement to have full coverage during your loan term and you bought the car as-is from the dealer.

amycooper · #3 (**permalink**) 06-16-2009

This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone.
Amy Cooper
Personal injury Lawyer

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