Redcucing Installment Head Scratcher

[Pointing1]

Here is a puzzle of sorts - i still owe 200k odd on my current vehicle (owned for a year). Current valuation of that vehicke is prob around 240-250 but i am unlikely to get anywhere near that with these dealers, i would like to somehow work out to reduce my installment either by selling current vehicle or keeping it any ideas

 

[Chevron]

Here is a puzzle of sorts - i still owe 200k odd on my current vehicle (owned for a year). Current valuation of that vehicke is prob around 240-250 but i am unlikely to get anywhere near that with these dealers, i would like to somehow work out to reduce my installment either by selling current vehicle or keeping it any ideas

That might be difficult. What car is it and how much you paying for insurance?

Probably easier to get you a lower insurance premium.

 

[Cool E]

Here is a puzzle of sorts - i still owe 200k odd on my current vehicle (owned for a year). Current valuation of that vehicke is prob around 240-250 but i am unlikely to get anywhere near that with these dealers, i would like to somehow work out to reduce my installment either by selling current vehicle or keeping it any ideas

Are you sure 240 -250 will be a trade value?

I guess its around R190K.

for the 1st year , most of the money goes to interest not reducing the capital by much.

 

[Pointing1]

190 is prob right but either way you know you are not going to get close to that with these dealers....

 

[Cool E]

190 is prob right but either way you know you are not going to get close to that with these dealers....

return it to the bank and tell them you cant afford anymore. they will assist you on selling it.

 

[Pointing1]

impact on credit rating?

I can afford it but just think im paying too much