Car loan modifications are offered by some lenders to drivers under significant financial duress. A car loan modification can get you a lower monthly payment amount or interest rate. However, you must prove that you qualify with appropriate financial documentation, including a hardship letter.
For most people, an auto refinance is the best way to change the terms of your loan. You’ll likely need to break even before you can get a refinance. Pay off the principal of your car until the amount you owe equals the actual cash value of your Ram 1500, then apply for a refinance.