How can you get out of a car loan?
I've still got MONTHS left on my car loan, and I am really not sure I can afford it anymore. How can I get out of a car loan?
The simplest option is to sell the vehicle. This should get you enough cash to pay off your car loan and hopefully still make a profit of some kind. While losing access to a vehicle can make life tough, it is often the smartest option to avoid debt.
You can also try to make your payments more manageable by:
- Refinancing your auto loan
- Negotiating with your lender
One way to help you afford your auto loan is to lower the cost of your insurance. You can do that by going quote shopping with insurance broker Jerry! Jerry is a free app that compares dozens of quotes from top insurance companies. Get signed up in minutes and see how much you can save!
MORE: How to sell a car
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