What to do if you have Negative Equity on an Auto Loan?
I currently have about $4000 negative equity on my auto loan. I don't know what to do because I need to sell my car but I cannot get what I owe. I can't come up with the $4000 difference. The reason I want to sell it is because my payments are way to high..about $600/mo and I can't afford it. My credit isn't that great either. I have been to many dealerships and they will not finance an older car and lower my payment. I can get a newer car but have the same payment, wich doesn't help me because that's the entire reason I need to get rid of this car. Very Frustrating! I don't know what to do....ANY SUGGESTIONS WILL HELP.
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