Considering all the factors, if your car’s value is less than your loan amount, it’s not ideal to go with this option. You should seek the help of a professional appraiser before you put your car on sale.
When you can’t refinance your car, trading it in for a less expensive one can work for you. Bring your car to your dealer and ask for a downgrade to a less expensive and used car. Doing so will reduce your loan balance. If you have excess equity in your car, you can use the money to pay your loan. Continua a leggere 5. Downgrade to a Less Expensive Vehicle