Rich and Andy; Great Idea! It's not uncommon for Canadian lending institutions to delay payments on principal balance. They ask in return that you make monthly payments on the interest charge. This more often applies to a mortgages but your banking officer may be able to extend it to a vehicle loan. If your lender is DC Finance, I don't know where you stand. They may rather you default on the loan if your balance is lower than the value of the vehicle but it may work in your favour if you are upside down in your payments. Meaning you owe more than its worth. If that is the case, they may put off payments on principal balance rather than face taking back the vehicle and reselling at a loss.
You may also consider refinancing, chances are lending rates are much lower than when you bought but again this is contingent on your balance owing. High resale value on Jeeps works in your favour.
May a new job find you before the creditors do!
-Brian
: > I know this is sorta an offtopic post and I hope that I dont get flamed for : > it. I really want another jeep enthusiast to give her a good home. I will : > deliver my jeep to Sask, Man, or Northern Ontario (or other if arrangements : > are made). : >
: > I've lost my job and I cannot make the payments anymore. I can tell you one : > thing though, I'm not going to drive anything else unless it's a jeep (but : > maybe a little more affordable one) *grin*. : >
: > I will also entertain trades for partial off (example: YJ for a certain : > amount off my TJ). I appreciate you guys. Take care! : >
: > Andy : >
: > Remove "NOSPAM" : >
: >
: