Auto Loan Modification Programs
You’ve heard us talk a lot in the past about different programs offered by lenders for modifying or doing a short sale on a vehicle loan a vehicle financing and here’s an example from Alli one of the largest Auto Lenders. They actually have a web page about Auto modification FAQs, and it goes through all their terms and conditions how it works. What you’ll find is this website, this web page is probably not easily locatable or linkable from their main page. They don’t have it publicly accessible or easily discoverable.

Lenders’ Approach to Auto Loan Modifications
Because it’s not something they necessarily want to make a big deal. They don’t want to do a lot of these. They want to do them when a person is requesting it. They’re intentional, they’re finding it, and this is one of the things that makes it tough for clients to find out how to do a car short sale, how to get out from under your heavy car payments, and under your upside-down underwater car loan.

Expert Consultation for Auto Loan Solutions
Every lender has some procedure for this. They have a certain policy, sometimes it’s not formal, sometimes it’s an informal policy, but if you have a car loan that maybe your payments are too high and you can’t get out from under them because the loan amount is more than what the car is worth, sometimes it makes it very difficult to find a way to sell the car, trade it in, or get out from under it. You don’t want to do a voluntary repo. If you just give the car back to the bank, it’ll destroy your credit, and you don’t want to have a repo on your credit. Even if you do a voluntary, it still shows as a repo on your credit report, so you don’t want to do that.