I have a borrwower that has only had her car about 4 months and the engine blew. The
original purchase amount was only $2200. I found a engine mechanic that will replace
the engine with a 6 month guarantee for about $1000 and we could give her a car repair
loan. The car is sitting at a garage about 18 miles from here. I have spoken with the
borrower several times regarding options. Without an engine the best she may get is
around $500.
Have any of you been faced with this delema and how did you handle it. I don't seem to
be getting much of a response from her because she has too many people giving her
advice. Do I just repossess it and sell it to a junk yard? What a difficult situation.
The good news is. The longer the program goes on the more I learn about cars!
Carolyn in Danbury
