by martinigrl on July 3rd, 2009, 3:29 pm
My husband recently was laid off along with six other employees due to economic reasons at his place of employment. We are finding it more and more difficult to survive on my salary alone while he looks for work. He drives a 2005 Acura TL and I drive a 2007 Toyota Rav 4. We still make payments monthly on each, however our credit has suffered recently and we are wondering if it would be wise to trade both vehicles in for one cheaper vehicle in order to avoid two car payments. The car payments combined total over $900 per month. Is it possible to get approved by a dealership to trade both vehicles in for only one vehicle while our credit is poor? We would like to avoid late payments or no payments at all, but don't know of any other way at this point to cut corners in order to make it through this difficult tme. Please advise.