Traded in vehicle not completely paid for, behind on payments

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Question

Country: United States of America
State: Wisconsin

I traded in a vehicle in 2002 that wasn't completely paid for. I now owe 17,000 dollars on a car worth about $5,ooo. Due to some financial difficulties, I am 1and 1/2 payments behind and am being threatened with all sorts of actions. Would it make more sense to just turn the car over the financial institution?

Answer

Normally it is better to sell it--you will get more...