What to Do When You Owe More on Your Car Than It’s Worth
How do you get out of your car loan?
Want to trade your car in after 3 years but you financed it for 6 years?
Did your life change considerably since you bought your current vehicle, and your needs require a new car?
Wanting out of a vehicle loan when more is owed on the vehicle than the vehicle is worth is actually really common.
The Folks at Quoted explain this perfectly.
First, a simple definition: a negative equity car loan—also referred to as being “upside down” or “underwater” on a loan—means you owe more on a vehicle than it’s worth, and it’s a more