Lease ends July 1st - lost my job - what to do

[MJ62]

Hi all, unfortunately I was affected by the tech layoffs earlier this year. I've had a hard time finding a new job. I am active in interviews, and have good opportunities, but still no offer yet. I'd really hate to lose my truck, and def don't want to return it and pay fees for cosmetic damage + miles.

I was wondering if anyone else has been in this situation before. I'm really really hoping I land a job before the lease runs out, so I can finance to buy it out. My credit score is good, but I won't have any cash to put down, or proof of the same solid annual income that I had last year.

Considering the circumstance, what would you recommend here? Is it possible I can still finance the truck before I land a job? Or is it time I just pick up any hourly job I can get and use that to prove I currently have reliable income? Lease ends July 1, 2023 and I'm in Los Angeles.

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[Dr_Strangelove]

What do you do specifically in tech? Would you be willing to relocate to Las Vegas? (Just a primer question I need to ask!) My "brother from another mother" is a VP of Product for Chase bank (LV) and I would be willing to ask him if he is aware of opportunities for you.

 

[AzScorpion]

Sorry to hear about you losing your job. Do you have a house and any equity in it? I ask because if you're able to still make payments you could take out a home equity loan (HELOC) and pay for your truck with that. Then make the payments on your HELOC (you can pay interest only so the payment will be lower) while looking for a job. Only thing you need to think about is this does put your house at risk so make sure you can make those payments. There's several calculators online which you can input your info and see what the interest only payments will be. Then once you land a job you can add more towards principal. Good luck!

 

[Tom_C]

Sorry about your job. As asked, what is your tech background? I was never in the exact situation, but I've been out of a job a few times (also tech) and it took several months each time to land something else. Fortunately my wife was still working so we weren't in a situation where we might lose our cars or house, etc, but it's still a terrible feeling and I feel for you.

I will tell you though that in each case, once I found a job it was better than the last and it worked out. I think you'll find the same, just stick with it. If you have to take a temp job, then do it, but keep at it as long as you can. Make looking for a job your full time job, get up everyday and spend several hours running down job listings.

Good luck... I'm sure it will work out.

 

[MJ62]

What do you do specifically in tech? Would you be willing to relocate to Las Vegas? (Just a primer question I need to ask!) My "brother from another mother" is a VP of Product for Chase bank (LV) and I would be willing to ask him if he is aware of opportunities for you.

Really appreciate that! I don't think I can do a full-time relocation, but more than willing to travel for work when needed. My work is in QA (Quality Assurance) - testing web/mobile products/applications.

 

[that408guy]

Have you contacted your leasing company and asked if they do lease extensions?

Found this article that might help,

"Most automaker finance units and third-party financial institutions will grant a one-time extension of a car lease past its end date by a fixed number of months (generally 12 or fewer) or on a month-to-month basis to a maximum allowance, though whether it’s a good idea depends on your situation. "

Article HERE

 

[Chris M]

"Make looking for a job your full time job, get up everyday and spend several hours running down job listings."

Exactly what I'm doing here in Prescott. Tends to be a little harder when you have no formal training and are getting feebler and older by the minute.

I'm sure something will present itself to you as you continue your search. Hang tough and don't give up on yourself!

 

[Max Crafter]

8 years ago, i lost my job, was unemployed for 6 months, and started a sole proprietor company, traded in my 2012 F150 and bought a 2015 F150 as a company vehicle, and Ford Credit barely batted an eye.
Times were different then, but the main thing is, keep a positive outlook. Things always have a way of working out.

 

[Joeiconic]

Lots of industries are still begging for workers, so take the best job you can find until you find what you really want. No reason - at all - to be out of work right now. Just my .02.

 

[D Fresh]

Find a job. Any job. Don't be proud and don't tie yourself to your previous expereriences.

I've never understood this "I'm trying to find a job." Claim.

They are literally falling off trees.

 

[canyonslicker]

Find a job. Any job. Don't be proud and don't tie yourself to your previous expereriences.

I've never understood this "I'm trying to find a job." Claim.

They are literally falling off trees.

At 67 years old not so much.. heck Walmart greeters are a thing of the past..

 

[BS67]

Sorry to hear about the job. Talk with your finance company.....explain to them your situation......ask for an extension.

 

[Tom_C]

Aw, man, just saw your updated pic... anyone with a shepherd is OK in my book!

 

[myothercarizahearse]

costco takes care of their employees and they still have greeters/ receipt checkers

plenty jobs out there, it just sounds like you really don't want to work

 

[Wytchdctr]

Find a job. Any job. Don't be proud and don't tie yourself to your previous expereriences.

I've never understood this "I'm trying to find a job." Claim.

They are literally falling off trees.

I have 20 jobs open for a company that is employing just under 200 people right now.

If you can turn a wrench on the west side of Houston and need a job I have that.... or are an Engineer (mechanical or eletrical).. or can do sheetrock work/framing... I have one of those as well. If you are all of the above maybe I can give you like three jobs at once. (Kidding). No other Rangers either so that would be a plus. Surrounded by F150s and 250s.

To OP. I can't help with a tech job at the moment but happy to review a resume and give tips from someone who doesn't use a computer to pre-screen. I read them all.... it can be.... interesting. PM if you want to take me up on that offer.

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