What can i do to get out of my car payment when im upside down on it?

Question

getting out of the car when im upside down on the car.

Answer 1

Nothing. You are obligated to pay off the loan.  The best thing to do is get a second (or third) job and throw as much money as you can at that car loan to get it paid off as soon as possible.

You can sell the car but that isn't going to help any, you still need to come up with the cash to pay off the loan before you can transfer the title to the new owner.

Answer 2

smash it! lol j/k dont do that ...talk to the bank see what they can do to help you

Answer 3

The only way to get out from under the loan is to pay the loan off. There are a few ways to do that, sell the car on your own or trade it in on another. However, the negative equity will factor into the deal and it will put you in a worse situation than you are now.

I don't know why people all of a sudden "have to get out from under" their loan when they wake up some morning and figure out they are upside down. They have been upside down since they drove the car off the lot. It's normal for most car deals to put the buyer in a negative equity position. Most buyers want the most car they can possibly afford and put the least amount down. The result is negative equity.

Answer 4

pay it off early