How do you go about selling a car, paying off a loan and downsizing into a cheaper used car?

Question

Want to get out of loan by selling a almost new car and getting into an older car. But don't understand under what circumstances the loan holder would help with this?

Brent · Accepted Answer

There is a reason you don't understand.  They don't.  It's not in the contract you signed.

You sell the car, come up with money to pay the rest of the loan--you are probably upside down right now--and start over.

Martha · Answer

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How do you go about selling a car, paying off a loan and downsizing into a cheaper used car?

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