Bit off more than I can chew
Back in September 2021 I decided to finance a new truck (48,000 stupidly). Flash forward to now. Fell behind on payments and now it’s been repossessed. I’m now considering a CP. however I have a month by law to buy back my truck or let my truck go to auction by the bank. However I need a vehicle for work. Just A to B. I’m strapped for cash atm and getting rides from my folks. Should I go ahead with my proposal or wait for my bank to auction off my vehicle. If I do the proposal, I can finance a cheaper vehicle and pay if it off early (get a vehicle sooner). Or if I wait to to auction I can get a little cash loan to buy a vehicle for cheap. Which would look better on my credit report?
ALSO, I have learned from my mistakes and will never do this again.
EDIT: I suppose it easy to judge someone’s situation while not having the necessary facts on what happened or how I got to this point. I’m asking for advice not your judgement. If you’re only going to dwell on how I screwed up and not offer any valuable advice. I’m trying to get myself to a better place and have already faced the ground breaking reality of this fall out. So please, if you have nothing valuable to offer just simply move on.
EDIT 2: After reading the comments here, regardless what has been said, truly is humbling. Thank you for your comments! My plan is: -Buy a beater next paycheck. -Wait till the bank auctions it off. -Pay the difference off ASAP. -never step foot in a dealership ever again. -go to therapy, get on meds, manage bipolar/manic episode impulsiveness.