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Discussion Starter · #1 ·
Ok so I'm in a bad situation with my car and theres a lot of smart people on here so I'm looking for the best course of action. So... I come back from Afghanistan and started car shopping and found a 2002 Jeep Grand Cherokee with 80k miles on it. For some dumbass reason I didnt carfax it on my own before checking it out, went and drove it, everything seemed ok and I ended up buying it.

Sure enough after just a couple weeks things start seeming wierd. Transmission slipping a lil bit, rear end making a wierd squeaking sound. Carfaxed it, turns out this vehicle was in a wreck and was a total loss vehicle but was rebuilt and somehow they kept the title clean on it. So we go back to the dealership and talk to them, they wont take the car back of course, and they end up going half and half on a warranty with us. Took the car to 3 different places and they all say the transmission is ok, the warranty expires.

Fast forward to now. The transmission is done for, I have no second gear in the vehicle whatsoever. I still owe $6500 on it, cant trade it in cause I'm too upside down on it, cant sell it to anyone cause i cant pay the lein off to the bank for them to release the title. My mom wants to help me out and sell me her car for $3k but first I have to take care of my vehicle problem first. A couple people have advised me to voluntarily repo the vehicle but I'm hesitant to do that because it will murder my credit, and the next 7 years of my life are a crucial time period. Im 24, who knows i might get married, have kids, get a house, blah blah blah in the next 7 years, i dont want my credit to be horrible. What would yall do in my situation?

BTW, please dont come on here sayin how dumb I am for gettin myself into this, I already feel dumb enough

Thanks for the help guys
 

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Discussion Starter · #2 ·
Also one more thing, about the title. I know usually the bank holds the title for finance vehicles but ive been in contact with them and they dont have the title, they have a reciept of title. Where else would the title be? Would the State of Kansas or the Kansas DMV have it since thats where its registered?
 

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I wouldn't repo the car just because it's not the honorable thing to do, not because it will affect your credit.

I think as far as the title is concerned, the actual document is re-issued when the lender clears the loan - in other words, one may not physically exist at this moment. This all varies state-state.

Beyond that, I don't have great ideas. You may have to park it and continue paying on it until you get to a point where you can sell/donate it. At least it helps with your credit building. Or, depending on how much you need the transportation, sell your R6 and put that towards the payoff. Motorcycles are a luxury.

I would also get on a good Jeep forum and see what people say about the problems, that's often a good place to score cheap replacement parts.

KeS
 

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runnin dis bish
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Jeep parts are cheap from a junk yard, does your base have a hobby shop? (thats what navy bases called them at least) You could go and use all the tools/knowledge for next to nothing.

You have to know someone who is fairly handy, with the right tools (hobby shop) a trans swap isn't that hard. If you search out help on a jeep forum I'd bet you money someone will offer to help for beer and pizza..
 

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A reposession on your credit will destroy you. You can forget financing a good car on good terms for quite a few years. Even 7 years later.
You'll be stuck with buy here pay here trash that will be just as bad as what you've got now. Say you finance a $10,000 car at a 25% interest rate, which is all you will get. You'll pay $7,640 in interest over a standard 5yr/60month loan.

You're unfortunately going to have to pay the price.
Fix the Jeep.
 

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don't repo. bad credit screws you over in sooo many ways, it's not funny in the least.

have you looked at the trans fluid? if it's not too bad, you might be able to get away with adjusting the bands and limping it along a lil bit longer. BTDT. cake to do that. just need a low level torque wrench and some basic tools. no ripping out of the tranny. also, flush your fluid out, replace filter, and see what happens. if that doesn't work, then it might be time to rip out the trans and decide from there what to do. if you're feeling froggy, rip into it and fix it yourself at a hobby shop. if not, time to get a salvage yard special.


on a sidenote, check all your fluids while you're under there to include the transfer case, and both diffs. if any are bad, get them replaced.

whenever i buy a used vehicle, i go through it front to back within the first few weeks regardless what previous owner says so i have a baseline to work from. it may not prevent the tranny dying, but at least i know i've got good fluid/filter.

good luck.
 

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My guess is that your title is electronic. If you can sell the jeep for maybe $4500-$5000 with full disclosure about the transmission, and come up with the extra $1500-$2000 to pay off the bank, the bank will produce a physical title for the buyer if they pay cash, or will transfer the electronic title to the new lien holder if the new buyer takes a loan.

The title thing is a non-issue and should not prevent you from selling the Jeep.
 

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Are we not men?
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Check your state's laws, maybe the bank can help you. They may be interested as they are holding the lien. Sounds like you could have a case against the dealer. That's bullshit. Doubly so to do to a vet (I'm assuming that's why you were in Afghanistan).

Do you have any record on paper that you had trouble with the vehicle? Anything you have will help your case.
 

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Don't repo the vehicle. Firstly, doing so shows a lack of integrity. It was your mistake, you've gotta man up and live with the consequences. Life lessons usually aren't cheap. Secondly, it will fuck your credit.

Sounds like a great time to learn to rebuild a transmission, or at least swap out transmissions. Or list in on Craigslist with full disclosure and see what you can get for it. If you can get enough, it might be worth it to sell it for a loss and then take a personal loan out to cover the difference. It sucks to do, but it may be your best option.
 

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Take it out in the sticks... Put it on blocks... Strip it... Report it stolen... Collect insurance... Sell parts on Craigslist... Shop for new vehicle. :nanapop
 

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Even if the bank would let you sell it, who would buy it? You are stuck. Fix it, or if you took out gap insurance, go look for hail storms.
 

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Mexican Hard Shell Taco
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If you run off the road and claim hit and run you can get your car covered by insurance. but that is ILLEGAL and NO ONE here is recommending that.


Lemon Law Summaries for each of the 50 States
Lemon law does not apply.

Get a used transmission and change it. Don't know what kind of Cherokee you have, but there are used transmissions for V6 and V8 Grand Cherokees from $250 to $500 on E-Bay.

Now I don't really understand how you can owe $6500 on a 11 year old Cherokee!? Not getting the Carfax was just one, and not the worst, of your mistakes...
 

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Now I don't really understand how you can owe $6500 on a 11 year old Cherokee!?
Sounds like he hasn't had it that long so he wouldn't have paid off much principal on the loan yet.

I'm with all these other guys though, throw a used transmission into it because you're stuck with it. You'd never get enough cash to pay off the loan with a blown trans.
 

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What was the wty ? 30 days ? I hope you kept your paper work from the repair/check under wty.. They did not honor the wty SO sue them in small claims court ONLY if you have the paper work..
Also have the codes read. Maybe it is in limp mode ? Is the check engine light on ??
The solenoids in the trans are a big problem
I DON"T care what they said about returning the vehicle.. Grow some balls and Sue them in small claims court for selling you a salvaged UNSAFE vehicle !!!!!
 
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