In 1-2006 bought a car for 31K, put 15K down, & fin. 16K, just got pay off and is 15k, what do I do?

Question

its BB value is about 20,000

Answer 1

If you can't refinance I would sell the car and cut your losses. It sounds as if you are getting screwed by high interest.

Answer 2

Enjoy life with no car payment.  You could sell/trade it now and get the most you will ever get for it.  The value will only go lower with time.  

I hope you meant payed off and not layed off...

If you were layed off then look for a new job quickly before you start to miss payments.  You could also sell it on the street and take the profit to buy a car cash that you can afford.