Consumer Debt Solutions and Your Car
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As the cost of cars continues to skyrocket, creditors are increasingly looking to seize them. Therefore, if you have a lot of debt, one possible consumer debt solution would be to lease a car rather than obtain a car loan. Among other things, you will not need to worry about your creditors putting a lien on the car.
That said, if you purchase an old car with a low book value, your creditors may not waste their time trying to seize it. While you may not like driving an old car, at least you will have piece of mind knowing that you own it. At the same time, you may even find that an old car that was kept in good repair will actually run better than most of the new cars on the market today.
