An Auto Loan is the second biggest loan payment for many of us, Mortgage being the first. If you're struggling to make your car payments, you have options, we have put together 3 steps you can take to help resolve this problem.
If you can no longer afford your Car Payment and want to avoid repossession, do the following:

1) Contact your Lender and ask them if they can lower the monthly payment if you can still afford to pay a little.

2) If your lender won't lower your payment, you can refinance the loan, but remember you may end up paying more in interest and the loan may be over a longer period.

3) Sell your car, avoid having to turn the car in as this can go against your credit. If you owe more than the car is worth,  this can be bad, because you will have to make up the difference yourself. If  you're in the fortunate position of your car being worth more than you owe, then just sell the car and payoff the loan.

Another option is making extra money on the side to help pay your car payments, boost your income by doing Free Surveys online with CashCrate. Sign Up