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Owe 12k on a car that needs 10k in repairs.
Owe 12k on a car that needs 10k in repairs. I owe 12 grand on an Escalade I financed 2 years ago. It requires an engine replacement, shop quoted me around 10 grand. I spoke to my lender (Canvas credit union) and they said my only option is to trade the car in. However, whatever the outstanding balance on the loan is, I have to purchase a car 3x that amount. Hoping to get around 4K for it...
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