im defaulted in my loan by two years...advice?

Welcome to the forums. :D I am not really sure about the loan agreement, but I know that you DO NOT have to buy the "gap coverage". That is optional b/c I have bought several cars and have declined the coverage. I think that they just told you that b/c they get more profit off of it if they add stuff on..

Are you saying you haven't paid on this vehicle in 2 years? And is it in repo? If so, you should give the car up or pay on it. I had a co-worker who refused the gap insurance and then was in an accident, it was the other driver's fault and they were uninsured, and unfortunately for my co-worker once the car was totalled out and his insurance company paid the value of the car it still wasn't enough to pay off the note and he still owed just over $5,000 on that car note.

Yea, it really helps, but I know that you DO NOT necessarily have to purchase it.

I might be asking a dumb question here, but what is the point of having a car if it is "locked up" for two years??? I think I would bite the bullet and let the car get repossessed...or pay the piper if I wanted to keep it.

k no. 1. the minute they get the truck back theyre going to try and get a judgement against me until the
day I die. no. 2. shouldnt Ford, GMAC, etc... take
responsiblity for trying to swindle and take advantage
of people first time out buying a vehicle? you can
say thats the way it is until youre blue in the face
but its only that way because people let themselves
get taken and dont stand up for themselves. big business walks over people day in and day out. im
just sick of it.