car loan contract ended may 25

[Anonymous]

Can anyone help here?  My sons car loan contract ended on may 25 he owes 2300.  thats with late fees, will a credit union or bank give him a loan to pay car off?

they have only given him 15 days to come up with money or they will take the car.  He was working 2 days a week for months and got behind, santander(they are terrible) will not extend the loan so he can pay it off.

any suggestions?  Help

[monkeywre]

If the car is worth more than $2300 he should go the local bank or credit union for an unsecured personal loan or if no other choices exist possibly put it on a credit card but only if that can be paid off quickly. Do you or any other relatives have any money that you could help your son with? If so that might be a good option, but if you don't have the money to help then take care of yourself. Loaning money to family memebers should always be a last resort. Good luck with the car.

[Anonymous]

Thank you for the info, he did try and call his bank and credit union naturally everyone was gone for the long weekend, so he had no other choice but to trade the car in.

he didn't want to get a new car but no choice they gave him $2500.00 trade in and $4000. in rebates on a 2010 chevy colbalt.(he had a 2004 cavaliar.)

This was his only option at this point in time.

Thanks for the help

[ngerasimatos]

Im confused by what "contract ended means". A car loan is for a specific term of months, if that term ended why was there a balanec due?