My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

I basically want to go from having a car payment to not having any car payment whatsoever. Any help would be appreciated. Thanks!

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

Well, since you have 4 years left chances are that you owe more on it than it is worth which means that your plan is probably not possible. This is the only way your idea would work:

Say you owe $9000, and sell it for $12000, and then bought a car for $3000. That's the only way.

If you owe $9000, and the car is worth $7000 and you bought a new car for $15000, then you would owe $17000 on that new car.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

Sell it - duh

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

If your car only had about 12 months left you could come out ahead but %26quot;you%26quot; having 4 years left I can tell you this. Your wallet will take a beating. Sorry..

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

you can find someone to %26quot;take over payments%26quot; OR you can %26quot;trade it in%26quot; for a cheaper car.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

go to the dealer ship or sell it to the bank you have your loan thru

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

Arrange to have it stolen? Leave it in bad neighborhood with the keys in it? You are probably stuck with it as the car probably isn't worth what you owe on it. I think they say you are upside down in it. Pay down on the lone principle and sell it. You can give it back to the lender and take a Repo on your credit!

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

The best thing to try, I think, is to have the dealership where you get your new car pay off the old one or give you enough on trade so that you can pay it off. If you are upside down on the car (i.e. owe more than it is worth) this is going to get tricky, though. Car dealerships can do some creative things with financing to get you out of an upside down loan, but you're likely going to have to come up with cash out of your pocket if that's the case.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

Then you need to trade for a lesser value vehicle. For instance, if you have a loan that is $10000, then the dealer pays off that loan when you buy a %26quot;new%26quot; vehicle, so you would have to buy a car that was worth a whole lot less than that, and they would have to give you a HUGE amount for your trade. It's really hard to do for most people. Talk to the finance manager at a dealership and they will help you come up with a plan.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

If the car is worth more than the amount still owed, pay it off so you have clear title, and then sell it.

If you're upside down, and owe more than it's worth, bite the bullet and keep on making the payment you thought was okay when you bought it.

If you still have 4 years left, how long was it to begin with? You really shouldn't finance a vehicle for over 3 years.

You might find someone to take over payments and take the car, but be careful if you do. If the person who takes it skips a payment they will come looking for you.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

depending on how long the purchase contract was initially, you may be %26quot;upside down%26quot; on the loan. This means that what you owe is more that what the car is currently worth.

Most auto loans don't break even, meaning when the car value and the loan principle amount are even, until at least 1/2 way through the loan term. If you had a six year loan and you have 4 to go, I'd bet you're upside down.

You can still negotiate a new car loan, they will have to take the amount you owe OVER the value of the old vehicle and apply it to the newer car. Let's say you have a truck and the loan is 15,000. the truck is worth 10,000, you're upside down on this loan by 5,000. That 5,000 (or whatever the amount is for you) is added to loan of the new vehicle.

Do your research before you shop. Go to kbb.com and look up new and used values for the vehicles in question. Trade in value is pretty close to what a dealer well allow for any trade in. They're pretty accurate typically.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

well i was in the same situation at one time. your probably upside down in the loan meaning you owe more than what it is worth, so your screwed. Now you can either sell it and try to get as much money for it so you can pay it off because you need the pink slip to give to the buyer. then go buy a cheaper car or sell the car by having someone take over payments. or trade it in but what ever car you get there going to tack on the remaining balance on to your new loan and your going to be even more f--ked .

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

The cheapest way is to find someone who'll take over the payments. It's not risky as long as you transfer the contract to the buyer. The buyer fills out a credit application and the bank must approve. Then even if he misses payment, they can't come after you because the loan is now in the buyer's name. But since your car is severely upside down (just a hunch) you'll need to offer a cash incentive. Something like $2000 or more.

The guy below is WRONG.

You can transfer the loan to ANYONE provided that the bank approves. I've done this MANY times before. They don't have to pay it off nor put a downpayment, they just ASSUME the loan. Just call the bank and ask for the necessary paperwork.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

It sounds like you have already done the %26quot;creative -finance%26quot;, 12 months into a 60 month note you are lucky to have paid tt%26amp;l off unless you paid a huge amount of CASH down . All I can offer is bad news , you CANNOT have someone take up the notes unless they payoff and refinance the car in their name, odds are the car does have the loan value to support that. IF circumstaces prevent you from paing the notes and are going to tank your credit save the notes up and buy a dependable car that will LAST before or after it repos.

My car still has 4 years left on the loan, how can get rid of it and get a cheaper car?

DEPENDS ON THE BEGINING TERM OF THE LOAN. HOW MUCH MONEY YOU PUT DOWN. THE TYPE OF CAR. HOW YOU TREATED THE CAR. AND THE DEALERSHIP YOU WANT TO BUY ANOTHER ONE. USED OR NEW.