If you really can't afford your monthly payment, even with the above steps, you may want to consider selling it and buying a cheaper car.
View How To Get Rid Of A Car You Can't Afford Images. If you own your car, you can try to obtain or refinance a loan on it, or sell it. No matter why your car payments have become unaffordable, it's important to know what to do.
How To Get Out Of A Car Lease You Can T Afford from completeautoloans.com
But think carefully before you do this — you might still owe the lender money. You'll have to go through a few steps and make some sacrifices to manage the loan or raise the cash, but the process is worth your time. When you voluntarily surrender your vehicle, the lender will sell the car to recover as much of the money owed as possible.
Then go to dealer and see what car they can put you into for that monthly payment.
No matter why your car payments have become unaffordable, it's important to know what to do. The company has a lien on the car and you can't just do whatever you want, sheldon says. You can get out from under a payment you can no longer afford. If you have an older car, a car with high mileage, or simply a junk car that's taking up space in front of your home, then you can't afford to spend any money on selling your car at all.
