I have a car with a blown engine and still owe the bank?

car engine

I need a car and my engine is blown and my bank wont give me a loan to get the repairs done. How can I get this resolved since im still paying for a car I cant drive?

13 Responses to “I have a car with a blown engine and still owe the bank?”

  1. wishiwas Says:

    You took the bank loan out for the vehicle. You owe the money.
    The bank didnt blow your engine.
    Thats like saying you lent me $10 to get a meal, but I didnt like the meal and threw it away, so I am not going to pay you back for it.

  2. Big ole me Says:

    If you stop paying the car will be repossesed, BUT guess what most banks will still take you to court to pay! AND GARNISH YOURS WAGES….this happened to a family member of mine. Be careful!

  3. TreeAlbero Says:

    You can keep checking around for a lender, but it doesn’t sound good. You could trade in the old car on a new car and roll the negative equity into a new car, but you’ll owe a whole lot of money. Other than that, just keep paying on a car you can’t use and try to make due with public transit or bumming rides.

  4. Rayha Says:

    That is not fair you can go to Wells Fargo Financial and they may give you a loan at a high interest rate. Not Wells Fargo Bank but Wells Fargo Financial

  5. lj1 Says:

    Call your insurance company and see what they will do. Since there is a lien on the car, I assume you have full coverage.

  6. countryfarmer21 Says:

    do the work yourself and ride the bus in the mean time.

  7. Quiet.Buck Says:

    A. get this engine fixed out of pocket
    B. dig yourself deeper with a Buy Here Pay Here car.
    C. learn to ride the bus
    D. learn to ride your bike
    E. learn to find ride share or bum rides from those at work

  8. PJ Says:

    Apply for a credit card – they give them to anyone – and get your engine repaired with that. Then destroy the credit card so you don’t use it again. Look in magazines, on the internet, in you mailbox – you will find lots of offers for credit, some of it at 0% interest.

  9. jared Says:

    it depends on how old the car is.. if it is still under warranty, then you should only have to pay the deductible.. if it is no longer under warranty, then you should have signed up for “GAP” insurance: this means if the car is declared “totalled” then once the insurance deductible is paid, the gap insurance will cover the difference between the value of the car vs. what’s owed on it.. if indeed you didn’t sign up for this insurance.. or if the car is no longer under warranty.. then you will have to continue paying the car off

  10. eddood52 Says:

    If you owe as much or more than the car is worth BlueBook, then you’re in trouble. If you owe less, you may be able to sell it off to someone who is good at mechanics looking for something to doodle on. But your best shot is to find a replacement engine from a junk yard and replace what you need and keep paying the bank on the car to keep up your credit.

  11. Maysha Says:

    unfortunately this is part of life. You will find a way to get through. All the best :)

  12. en tu cabeza Says:

    You’re kind of out of luck. If you quit paying on the car they will come repo it and it will adversly affect you credit and cost you money in the future. You either need to get it fixed and drive it or junk it and roll the loan into a new one. No real good solutions.
    go to

  13. fencepro Says:

    That’s a tough place to be in…payments and not the funds to do the repairs. Did you have the engine checked by a mechanic…it could be just the heads and head gasket or something cheaper than replacing the whole engine. Have you researched the cost of replacing the engine? You may get lucky and find a garage that will work some type of payment arrangement for you, but expect to pay part of the cost up-front.

    Good luck

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