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How can I get out of an upside-down car loan?
I owe way more money on my car than it's worth and I really need to get out of my loan. What are my options?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Fortunately, you have several options to get out of an upside-down car loan. These may include:
- Making extra payments toward the principal of the vehicle (putting more money toward the loan or making more frequent payments)
- Selling the car or trading it in
- Refinancing the vehicle
View full answer
- Gregory R.
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