Negotiating a better credit for a vehicle

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Kitchee

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Negotiating a better credit for a vehicle
« on: February 13, 2010, 04:53:47 PM »
Our son declared bankruptcy three years ago. Did not discuss options with us beforehand. My husband had co-signed a loan with a bank for son's vehicle - a Nissan Xtera - 2 years old. The trustee son dealt with credited him with $5000 after repossessing the vehicle. That meant we had to pay the remaining loan of approximately $35,000. We eventually saw that the bank credited us with $5000 - now we are down to owing about $16,000 and would like to pay the rest off. Is there a process to negotiate the bank lower the amount owing as we are sure the vehicle would have sold for much more than $5000. Thanks for any help/advice. Lisa ???

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Nevergiveup

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Re: Negotiating a better credit for a vehicle
« Reply #1 on: November 06, 2013, 08:04:37 PM »
HI
 I just got a loan and  the bank told me that I could re-negotiate the loan after a year, the interest may go down, I am positive , may banks will work it out for you.

 

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