What to Do with New Auto Loan after Job Furlough

[Milkey]

Hope this is the right section for this post.

What is the best way to handle an auto loan to protect credit when laid off from a job?

Just heard that my son-in-law was furloughed from his job this week. Company said they hope to rehire the guys in a few months, but he was laid off for 2-3 years with the last furlough. In the meantime, he will only get meager state unemployment and they have two small children and no savings!

They bought a new small SUV six months ago and have been working to repair their credit.

Is there anything he can do to protect his credit?

[ezdriver]

Talk to the auto loan creditor and see if they will allow a repo without hitting credit. Alternatively, try to sell the vehicle and pay off the loan or get someone to take over the loan.

[Milkey]

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@ezdriver wrote:

Talk to the auto loan creditor and see if they will allow a repo without hitting credit. Alternatively, try to sell the vehicle and pay off the loan or get someone to take over the loan.

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Thanks!

Anyone have any other suggestions? My daughter and son-in-law only have this one car. They are in California desert where a car is a necessity (especially now for job hunting). Public transpo there might as well be nonexistant.