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Pictured left to right: Kunes Auto & RV Group's Director of Finance, Scot Hensel, and Director of Marketing, Jen Myers; Text reads: Kunes Car Convos; Inside look at "Can I give my car back?" Auto Loan Financing

Kunes Auto Group Presents Kunes Car Convos: Auto Finance Insights and Overcoming Challenges

Published on Nov 16, 2023 by Talia Mushinsky

In this episode of Kunes Car Convos...


1:14 - What if I can't pay for my car?

6:58 - What are my options?

8:53 - Visualize it with our triangle diagram

11:54 - Our best advice

16:10 - Autopay can help BIG TIME

Today, we're sharing valuable insights from our recent Kunes Car Convo, where Jen Myers, our Director of Marketing, had an enlightening chat with Scot Hensel, our Director of Finance. They discussed crucial topics about car finance, especially for those facing credit challenges.

Can't Pay for Your Car? Here's What to Do

It's common to find yourself struggling with car payments, especially with rising prices. Scot advises not to ignore the problem, but to work with your lender for a payment plan. Ignoring it might lead to repossession, affecting your credit and future vehicle purchase options. It's crucial to face the issue head-on.

Understanding Credit Scores in Auto Financing

Credit scores can be confusing, especially with different scoring for auto loans compared to general scores like Credit Karma. A high general credit score on Credit Karma doesn't always translate to a high auto loan credit score. This can impact the terms of your auto loan significantly.

The Reality of Voluntary Repossession

Voluntary repossession isn't an easy escape. If you can't afford your car, it’s better to discuss it with your lender rather than simply returning it. This action still impacts your credit score and leaves you responsible for any remaining balance after the car is auctioned.

Bankruptcy and Car Financing

Experiencing bankruptcy doesn't mean you're out of options for car financing. Whether it's Chapter 7 (debt erasure) or Chapter 13 (payment plan), we at Kunes work with various lenders to help you find a suitable financing option.

The Importance of Down Payments and Gap Insurance

A significant down payment can greatly reduce the overall cost and interest of your car loan. Moreover, gap insurance is vital if your car gets totaled or stolen, covering the difference between your loan balance and the car's current value. A rule of thumb is to consider gap insurance if you're putting down less than 20-30%.

Dealing with Challenged Credit

For those with challenged credit, it's about making wise decisions. Prioritize rebuilding your credit with affordable, reliable transportation rather than chasing your dream car immediately. We at Kunes focus on helping you make smart financial choices for the long run.

The Kunes Approach to Helping Customers

At Kunes, we believe in providing reliable vehicles to all our customers, regardless of their credit scores. Our goal is not just to sell a car but to help you improve your financial situation and provide safe, dependable transportation.


Remember, facing financial challenges head-on is key. Work with your lender, understand your credit, and make wise decisions. At Kunes Auto & RV Group, we're here to guide you through every step, ensuring you drive away with not just a car, but a solution that fits your life.

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