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Auto lot falsified income to get loan without my knowledge - now I'm stuck with auto can't pay for? Will ruin credit to turn in-what to do?

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If you signed the loan papers, using the information that they submitted, then you are liable and potentially could be held accountable for fraud. Either way your credit is going to be affected, if you don't pay they will repossess it, so your best bet would be to try to sell it (at the very least) for whatever you still owe on it.

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Suzie17

Yes

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If you signed the papers your stuck with it. The car lot didnt take a loan out in your name without you knowledge, also once th loan was processed you should have had it all explained at the dealership what your payents would be and what the length of the loan is.

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FunnyLittleFrog

But why did you buy the car? You must have known you couldn't pay. It's not their fault. It's you choices that will make you a bad credit risk, and you credit score will reflect that. Sorry but you are culpable.

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Sell it yourself to a personal buyer for the amount you owe on it. If you turn it in, it will appear as a voluntary repo on your credit for at least 7 years. Whatever you have to do, don't let that happen. Been there, done that. Not fun.

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Put the car up for sale today! Try to get what you can for it and go to your lender with the offer. See if they will accept said offer as payment in full. If not, see if they will give you a personal loan for the difference.

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You're are responsible for the loan. Period. Hope you can sell the vehicle and get out from under. This should teach you a lesson. This is exactly what got so many homeowners in trouble. Just because someone will give you the money doesn't mean you have to take it.

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