How to Trade in a Car that is not Paid Off | MONEY $AVING TIP$

[@justapseudonym7]

I just followed your tips, got my car paid off and have a great 2016 car for about 8k less!!!! 😭😭🙏🏾 God is good!!

[@DiamondEdwards]

Amazing! Welcome to the community Abby😀!

[@trippkristopher9201]

I dont mean to be so off topic but does anyone know of a trick to log back into an instagram account..? I was dumb lost the account password. I appreciate any tricks you can give me

[@Stagemydesign]

How was the process

[@gracecarr5407]

I really wanted to say a big thank you for this valuable information. It has answered more of my questions in so many ways. Will continue to watch your videos.

[@DivaDen]

This video was very helpful! Only had my car for a few months and I'm already ready to trade it in LOL Let me watch some more of your videos and get educated. You deserve way more subscribers.

[@rafaelsolitario3038]

Did you already trade your car in?

[@jordanloks5363]

?

[@sandyornelas1119]

I’m in the same situation right now. How did it go?

[@squadbnk7896]

Did you ?

[@taythagoddess9211]

Same!!! Its been a month lol

[@JordanCann]

Great video, brother! You broke it down like a champ!

[@DiamondEdwards]

I appreciate that Jordan! I’m trying to get this financial information out to the people one video at a time! New videos each week.

[@billymcbilliam]

Man, EXACLTY what I needed to know. Great job explaining the truth 👌🏽 subscribing now!

[@DiamondEdwards]

Thanks and welcome! New videos added weekly!

[@simplysounds5845]

Dropping SO MANY gems in your videos, ppl just don’t know it yet. Please keep these videos coming 🗣

[@sadherb5069]

I have about 5,999 left on my 07 Camry.. and I want it gone. I’m trying to look to sell it for maybe at least 4-5k... this video saved me

[@michaelb.8953]

That's crazy being underwater on a 13 year old car as of your writing.

[@sadherb5069]

@@michaelb.8953 yeah i will never get hit like that again.

[@aminuabdullahi5922]

FINALYY A GREAT EXPLANATION

[@DiamondEdwards]

Thank you😃

[@bryanpadilla8826]

Thanks for the info. Just called my lender and found out I'm finally building equity in my car that I want to trade in. So I'm in no hurry to get rid of it. Now I can patiently look for another car to buy.

[@DiamondEdwards]

That means its getting paid off which is a good thing. Once it's paid off I would ride in that joy for awhile. It feels good!

[@drbayazdentalgroup]

Good job Diamond in explaining the details.

[@DiamondEdwards]

Thanks!

[@loriedelvillar3785]

You are a great speaker! thank you for sharing your gift.

[@DiamondEdwards]

Wow, thank you!

[@celesteestrada4739]

Ooooh. Im looking to trade in mine in the next couple weeks. Thank you!!

[@DiamondEdwards]

Because of COVID-19 the auto industry is saying that wholesale is down 8% but retail is down only 1%. AKA we’re going to give you less for your trade and sell you a car at retail. Don’t be a sheep, GET what your car is worth or go somewhere else!

[@Vegasmadee702]

Diamond Edwards Any experience with rental companies car sales ? I want to trade my Camry for a camaro. Can I get a trade in value estimate over the phone before heading to Arizona. Can I finance through hertz? Can you Negotiate with them?

[@DiamondEdwards]

One of my current cars was a rental (AVIS). I've had it 9 years with 130k miles and no major issues but I bought it from a dealer who purchased it from an auction. I have never dealt with the rental company directly. I would just give them a call but all car buying rules 101 apply. You can get a instant online trade in quote at autotrader .com. Don't let them steal your trade.

[@michaelhauserjr9790]

@Diamond Edwards Hello I bought a 2012 mustang coupe premium in september 2020. It wasn't a trade in. My car loan is 5.5. which is 66 months. My car payments is $350 a month which is a lot. I been having a buyers remorseful crisis off and on since october. I wish i would have been more open to 4 door cars instead of mustangs. I put my heart and soul into wanting a mustang but at the same time i wish i was more open to 4 door cars but i can't go back and change something that's already happened. I can't refiance my car right now because i owe more on my car than what it's worth. I'm not planning to keep my car for all 5.5. years and i'm not planning to refiance. In the near future i want something that's more affordable and not so expensive. My question is how many years do i have to wait to trade my car in without refiancing?

[@bigkl9078]

Great info. Thank you for the video.

[@tonspike]

Thanks for the easily digestible information. Something I haven't found anyone cover yet is: how do you protect yourself when trading in a car? How do you make sure the dealer actually pays off the loan? Do you get this in writing? When is it safe to cancel insurance on that vehicle? Etc.

[@DiamondEdwards]

The best protection I can think of is due diligence. You are responsible for the old loan until it is paid off even after a trade. I would track the old loan until I see the balance is zero and if it took more than a week or so I would be on the phone. You should have this in writing but check your state laws. I would be comfortable canceling insurance the day after it is traded because you should have a documentation showing that you sold it to the dealer. Legal owner and debt obligations are not always one in the same.

[@brandonspencer84]

I got 3 years left

[@freespirit8635]

​@@DiamondEdwards what about requesting that they cut YOU a check rather than them sending a payment to the loan company? That way you have the money in hand for yourself, to directly make the payment? ...

[@darrelllewissr9413]

I like the way you explained it. You are very knowledgeable about this. Thanks

[@DiamondEdwards]

So nice of you

[@orlandojefferson5477]

I like your information. Straight to the point. Thanks

[@DiamondEdwards]

Thank you!

[@christinafreeman4260]

Great way of explaining how it works. I keep getting letters that my 2019 Ford Fusion is in high demand. I owe $20,000 left on the loan, so I’m hoping the value is more than that. Thanks

[@DiamondEdwards]

I through about doing a video just covering those letters! Most of the time it's just a marketing tackle to get you in the door. Sometimes the marketing team don't even tell the sells team so they are clueless when you bring it in.

[@V_Train]

Hey man I appreciate the video buying a car shouldn't be impossible

[@ALMiGhTyKuLTuReJeYy]

Great video bro hand one if the best about cars on youtube

[@DiamondEdwards]

I truly appreciate that!

[@danb8606]

Awesome stuff, man. If you are upside-down say, $8000, can you go to one of these buyer dealerships and sell your car to them, and then after that, take that remaining $8000 or so that you owe the bank/lender and roll it into the purchase of one of their cars for sale? I'm trying to downgrade, as my loan and payments are wayyy too high ($710/month) for my 2020 Charger R/T Daytona. So I'd like to sell the Charger and then buy cheaper, with the $8000 still owed rolled into it. Can they do that? Thanks.

[@kingfelipe9564]

You are the man !! Thank you for the great information

[@DiamondEdwards]

Appreciate that, but you're the one who clicked, watched, and commented. Go kill it, my friend!

[@IDBL123]

Great video!

[@TheManOSteel69]

I traded my 2016 sentra from carmax with 43000 miles I owe 12600 at 15% interest got a 2021 corolla 32000 at 5%. They were gonna give me 7000 for the sentra but I said no thank you then they went back and dropped 5000 more so it's kinda like they paid my car off.

[@brentgray8228]

Great Video Appreciate the Information

[@elise9151]

Facts great video

[@SuperThunder911]

Great video, thanks buddy 👍

[@ProJvst]

this video answered all my questions wow thank you !

[@jasonray2827]

8:20 yessss thats what they did to me I was so confused

[@leciapeters463]

Who great video thank I God Bless

[@DiamondEdwards]

Glad you enjoyed it

[@noahrockhill7749]

Very insightful, thank you

[@DiamondEdwards]

Thank you for watching.

[@JeshuaAdorno]

Car Price: $30,000 Car 1 Owe: $7,734 trade in value 12,113 Car 2 Owe: 18,807 trade in value 17,113 How much would I actually finance based on this information by trading in both vehicles that current I still owe on?

[@DiamondEdwards]

My calculator says you would have to finance $27,315 or more if the 30k is not the out the door price. Car payments SUCK!

[@TheGentileGabe]

I only owe 1300$ left on my 2015 civic and I’m gonna a trade it in as a down payment on a 2022 civic. Thanks for the info.

[@DiamondEdwards]

That's plan. Have you ran the numbers if you paid off your 2015 and started investing that car into a S&P 500 fund? Looking 5 years in the future it may make you rethink starting over with a new car payment. Just a thought! Congratulations on getting your car paid off!

[@lgarzoria]

Excellent info, thank you!

[@DiamondEdwards]

Thank you!

[@valerieyoung2125]

Thank you good sir!!!

[@4knewt505]

I wish I saw your videos 20 years ago.

[@mysticnj]

Thank you for your detailed video! Can applying negative equity to loan apply for (certified)used cars or only new cars? I would like to get a newer version of my current truck but still owe about 4K.

[@brandonspencer84]

Also Carvana

[@Chinunit22]

Paid off or not, car sales person is stubborn. By them giving you a good deal makes them look bad and they don't make any money. Pay off your vehicle and sell it on Autotrader or Craigslist. Don't waste your time on greedy dealerships.

[@tennesseegirl5539]

Super video. You are great

[@DiamondEdwards]

Thank you very much

[@JesseMadrid23]

Ok I have a question. I owe less than what my car is worth so I have equity. I want to trade the car in and upgrade. Can/Should I add more cash to get the payment where I want it after moving the positive equity from my trade towards the car I’m trading it in for and how quickly would I need to check for my loan on my trade in to be $0 paid in full. Thank you! I’m still learning so if what I asked is dumb then that’s why I want to know. Thank you man! Just subscribed as well party🎉

[@wandering_gnome2868]

Thank you so much for the information you are such a big help you answered my questions to the T.

[@ea0602]

I just traded in my car🤦🏻‍♀️ Wish I seen this video before I made the trade!

[@DiamondEdwards]

Hopefully the damage wasn't too bad!

[@jadenmufucka7000]

why?

[@JordanOfAstora]

I wish I say this as well they got me on the trade in and the car loan for the preponderance vehicle I was going for.

[@brettkimball6612]

Just subscribed Diamond, thank you very much for sharing your knowledge. You're really going to save my butt.👍

[@DiamondEdwards]

Glad to help. Welcome to the community!

[@milanmills2824]

I was looking into trading my car but looks like it ain’t gon happen 😂😂😂. That’s a lot of work

[@carlosprieto1058]

great video my guy!

[@StacksStark]

Bro, are you available for some 1 on 1 counseling? Email or Zoom? I'm thinking about trading in my '12 VW Jetta for '19 VW atlas. I owe about 4k still on the Jetta. My loan was bogus, I was young and inexperienced and it's cost me thousands. Jetta value ranges from 4-6k. Atlas is 30k. Not trying to get washed again. Definitely taking the time to do my research.

[@DiamondEdwards]

Hit me up on IG@diamonddedwards or email @[e-mail]

[@easysmokeshopmarket2326]

Poppy I will è2SS

[@JackedRabbit-h1l]

good video helped out alot

[@anareyescreations]

Thank you for your helpful information. I'm a new subscriber!

[@Ndasuunye]

I got a question. Is it better to pay down the balance and wait a few months before getting a new car, or find the appraisal worth of your car, pay it down to that (or less) appraisal value and then trade it in for a new car (that will be paid off quickly)?

[@thetraveler6947]

Got the same question tho

[@authentikbeauti]

@diamondedwards

[@rebeccacooley8249]

Very good information

[@DiamondEdwards]

Glad to help!

[@esanmarques90]

Recently traded in my car that had a notes on it. They got the pay off amount but took forever to pay it , now I am billed with the difference of a new pay off balance

[@Sventy11]

The trade in and purchase are not separate at all. If you trade in a car for 30k and buy a car for 40k, youre only liable to taxes on 10k difference.

[@Getyourdoe]

That NADA website doesn't work very well, I tried to get a quote on the value of my vehicle but that website jumped all over the place.

[@DiamondEdwards]

I agree, I don't know what they are doing over there as their information is gold.

[@jasminwhitfield1117]

Thank you so much

[@drvenhrd46]

Can they roll the negative equity to your new existing loan? Let’s say I have a 6k negative equity and I’m trying to purchase a 20k car will they add the 6k on top of it?

[@awakenedhigherself9961]

I bought a BMW in feb of 2023 put 5k down and the cars value is that of over 26k and i’ve had it for 3 months now i pay 291 every 2 weeks and honestly this bmw 5 series 2013 model takes way to much gas i’m easily paying 20$ a day in gas i’m looking to trade it in for a far cheaper option

[@Eternalwordsofwisdom]

Thanks good advice

[@jafp1617]

So does a good credit score help in this situation? Like having a 700 credit score and above? If you really want to get a new car(or a very low mileage used car, years 2019/2020) then you would have to put a big down payment with a little negative equity for a trade-off?

[@jeremysalazar9532]

Thank you so much for making everything easy to understand, I hope the best for your channel

[@DiamondEdwards]

I appreciate that! It's my mission😀

[@hassanmeraj8037]

Great information...

[@Ryanthemusician]

i still owe 21 grand on a car thats only worth 13k and there is no way im gonna keep the car for the entire duration of the loan. i need to know what my options are to get something cheaper please help

[@emjayel4509]

In the same boat

[@sdcommunitea]

I'm in the same situation as well.. what progress have you made?

[@Ryanthemusician]

@@sdcommunitea I’m still looking I didn’t find anything

[@ladawnemalone2955]

Maybe take it to auction only except what you’re willing to part with otherwise double up those payments and get it paid off is an only option👀

[@beyondartists7641]

Very helpful

[@DiamondEdwards]

Glad to hear that

[@alphaandomega2709]

I have a 2018 Chevy Colorado I owe 22k but it’s worth 25-27k and want to trade it in for a Tacoma any advice if I should wait or maybe buy a used Tacoma for 20k?

[@DiamondEdwards]

It's always nice to have positive equity. The question becomes what do you want to drive for the next 5 or so years and how does this car purchase fit into your overall financial plan. Are you trying to get out of debt? If it was me and I wanted a Tacoma really bad I would find one equal to your value (out the door) so it is a even swap. Or I would get the Colorado paid off and start focusing on building my net worth so later I could buy and drive whatever I wanted without thinking much about it. That's what I am doing now that I paid off my truck. Which way are you leaning?

[@asafamily8817]

you are amazing im looking to trade my yukon in for a mini van still owe on it tho this helped me a ton

[@amwot6699]

Thank you

[@ItzKingMagana]

I have a special scenario: Let's say I got a brand new car from the dealership a few months ago, and I now owe about 24k on it, then months later you see that the dealership is selling an exact new make, model, color, and year of your car for about 22k; could I trade in my car for it? If one, my car's trade it value is the same of the new one? Two, can it be from the same dealership that you purchased your new car from? Three, would my 24k be essentially gone since I would trade in my car for their new car and be debt free or would a new loan be started?

[@teuilamalo9020]

After this video I decided to refinance my car

[@DiamondEdwards]

I’m glad it helped.

[@HJ-dw8mj]

Excellent

[@sandraolivarez3949]

Very useful information! Was looking to trade in 2017 Acadia for a 2020 Mazda CX-5 BUT I have negative equity. Thankfully I watched your video. Even though there’s one thing about the Acadia that I hate, I’m gonna have to put up with it due to being sooo inexperienced.

[@DiamondEdwards]

Thank you Sandra. Putting up with a very nice 2017 Acadia while you get it paid down/off is a smart move. You don't want one car deal following from car to car. Watch this view for "10 tips to buying a car and not hating life after" kzbin.info/www/bejne/o2KpdmCdrt6UgLs.

[@kenyatta4rmdabeach745]

I have 2018 Nissan Altima but want to trade it in for something a little older maybe a 2015 or 2016 Kia optima or Chevy impala

[@DiamondEdwards]

Why? Isn't all those cars around the same value as the Altima?

[@harvey2539]

Thanks bro

[@mzprettyniya]

How can I trade in my car ? I brought it about 7 months ago feel like I got ripped off. Please help.

[@itsaaron-_-4288]

So would you get trade in value if your car is in the negative by like 1 grand?

[@michaelhauserjr9790]

Hello I bought a 2012 mustang coupe premium back in september of 2020. It wasn't a trade in. My car loan is for 5.5. years which is 66 months. My car payments is $350 a month which is outrageous. I been having a buyer's remorseful crisis off and on since october. I'm not planning to keep my car for all 5.5 years so my question is how many years can i trade in my car without refiancing and how many years will i be halfway through my car loan? If you could give me some good advice i would greatly appreciate it. Thanks

[@rr84]

This is great info! I'm about to trade-in my suv for a truck.

[@Oheneba64]

Hey Diamond, pls how do I negotiate to bring down the vehicle price?

[@DiamondEdwards]

That’s going to be difficult in a market we’re car price increased 20% in value over the past year. I would tell them my price and if they can’t do the deal find another car. Don’t play yourself and over pay for a car. It will hurt later!

[@futurehunter_1]

Thanks bro. I just bought a truck and I want to get rid of it.

[@DiamondEdwards]

What made you buy it? Why do you want to get rid out? What truck did you buy?

[@sarahlemay267]

Do you know what would happen if I wanted to trade in a financed car that still has money owed on it, but the cosigner I had for the original car has died? It's a 2015 Nissan but I finance it through Carmax

[@DiamondEdwards]

Sorry for your lost. As long as the title is not in the cosigner name the trade should be straight forward. The dealer send a check to bank for the trade in amount and you are responsible for the different unless you trade value is equal to higher than your loan balance.

[@tileah26]

Can I sell my car I owe money on and use it to buy a new car and pay the rest I owe to the bank

[@Ms.Haleyy]

thank you for this advice! Would it be worth it to detail my car before a trade in?

[@DiamondEdwards]

Just a standard Saturday wash/vacuum is all I would do. Make sure you know what it is worth before you go to the dealer.

[@parrisstowers1762]

I have a 2013 Hyundai Ellantra I got it last year in December 9,000 and since then I’ve have a new baby and really want to trade my car in for something with three rows I still owe 6,000 on my car what would you recommend I do. I open for all options

[@RandySmith580]

New sub thanks 4 the info 🙏

[@DiamondEdwards]

Thanks for the sub and welcome to the community!

[@hughballs]

I have a 2021 charger gt I want a charger rt with the hemi I haven’t made my first payment what should I do

[@DiamondEdwards]

Slow down and think long and hard before making any large financial decisions. IF you can make a clean break do it. My guess is you can't and if you attempt trade in the car it is going to cost you thousands of dollars and I would not do it! I would enjoy my GT and focus of getting out of debt and invest more because is where the magic happens.

[@alvingraham7978]

I have a 2009 Nissan Altima but I still have $7000 left to pay, but I wanna trade it in for a Dodge Challenger or a two door infinity

[@xGee16]

Same have a 2020 Altima wanna trade for a Dodge Charger

[@jadenmufucka7000]

@@xGee16 do it u’ll be happy

[@antoniomckissic5402]

Thinking about trading in my 2019 Dodge Charger that's priced at 23k for a used 2019 Box Truck that's priced at 41,000 to start my business is this a good or bad idea plus I have 15k in my savings account for hard times 😔

[@Ann-ub4mf]

Diamond is your first name and it's my last name,😁 Thanks for the video and the excellent information. 🙂👍

[@DiamondEdwards]

Cool, thanks

[@romariosmith422]

In my situation my car is just not in a good shape so i doubt most dealers would take except for carmax lol

[@athleteg1g.481]

I'm on it.

[@athleteg1g.481]

Thank you

[@IamKerious]

I have a 2019 Kia stinger base model but it has added features like sun roof and better sound system like Harmon i owe $25,000 and on KBB my trade in value is 27,000 so is that good for me to trade in for a Dodge Charger scat pack? Also carmax offered $28,000

[@brandonj6474]

I think you should I’m tryna get a scat too .I just bought a charger sxt2015

[@hayleysafari1740]

I owe 11k on a car I just got. I’m making less money then I thought I’d be. I can afford car payments but when something goes wrong it’s pretty expensive 🥺😞 I’m thinking of trading it in for something maybe like 7 or 8k instead and a totally different type of car. Since I just got it a few months ago. Should I wait a year or something first before trading it in?

[@DiamondEdwards]

To be honest if you want something cheaper. The best move is to sell your car and pay off the loan. Starting from zero go out and buy a car that is more affordable. You don't want to carry your old deal into your new deal because it will cost you more even if you get a cheaper car. Thanks for watching and good luck.

[@gelooo2x]

So let’s say the car ur trading in is worth 17k retail an sell it for 14k An the car ur getting is 16k Am I paying 2k for the car bc I sold mine or am i paying the rest of the car as if I was still paying for the first car I got?

[@vince5539]

When you trade your car in do you have to put a down-payment on the new car

[@DiamondEdwards]

If you don't want to be a slave to your car you should always put a down payment if not just pay in cash. Car payments suck! However, they rarely require a down payment unless you are upside down in which case trading is a bad idea but you usually end up worst off. Check the comments on my "Negative Equity video. Here is a video you should watch before you sign up for another car payment. kzbin.info/www/bejne/mYbSpYSKirpgmpo

[@franciscoc.2680]

Need advice rolled car loan into a new one like a dummy I owe 21 thousand still car worth 11k at 17% should I get a new loan now that my credit score is at 715 it was a 615 when I got the car. Basically pay the 21k 17% or new amount prob 27 at a lower interest rate plz any advice would help

[@salaiello1958]

you should try to refinance the loan

[@franciscoc.2680]

I did ahah

[@DiamondEdwards]

How did it work out? A lot of people are in this situation. Normally the negative equity becomes a bigger issue than the credit score.

[@franciscoc.2680]

@@DiamondEdwards I refinanced atb3.5 percent i owe 19 currently with gap insurance added just in case. I tried trading in they were crazy trying to get me to finance 37k on new camry hahah no way thank God for stimulus used it to refinance

[@josephberry105]

I’m dealing with that now… I owe $10K on my car and I’m trying trade it in to some dealerships but they all keep telling me no cause mainly sense my loan is still new I took a loan out on the car back in July.. So they telling me I gotta pay it down some more, than lastly not to mention when I got the car it had issues but I didn’t know that.. Now 2-3months later the Catalytic Converter goes out… So my question is it a done deal for me or can I still be able to trade it in?

[@DREQON2005]

I got a car I just bought and have payments but I have engine problems already after a month now I wanna trade it in I’m probably definitely gonna be upside down I’m only a month in

[@whhhaattttt1647]

If i was to sell my car to autotrader for one of their offers and i still have an outstanding loan on my car (its financed and not paid off) do i need specific paperwork for them to sign when they come pick up the car?

[@DiamondEdwards]

Most likely the dealer will handle the paperwork as they do this everyday. Just remember you are on the hook for the old loan until it is closed out. Track the loan until you see the balance is zero. Do not just sign some paperwork, toss them the keys and never think about it again (even if thats how you feel)😆

[@andrewmckenzie956]

@@DiamondEdwards how long Will it take for the old cars loan be paid off by the dealer for the new car?

[@jackiewillis7533]

You are awesome!! I just bought a 2020 Maxima 4 months ago. but I'm not happy with it. Can I email you about possibilities?

[@DiamondEdwards]

I'm not sure you will like my answer but I am always open to help. Check out my about me page or IG.

[@xGee16]

I got a 2020 Altima this August thinking of trading it for a Dodge Charger lol

[@Testament-qn1pe]

I have a question hope u can help me, i went to a dealer to trade in my truck, i do have negative equity, my truck value is $18,500 i owe $21k and the truck i wanted was $38k, so the dealer was willing to pay off the whole $21k i owe & add the whole $21k on the new truck, so the new truck is coming out at almost $60k & they still get to keep my truck, does that sounds right? Please help

[@DiamondEdwards]

You need more quotes. Get a online one from Autotrader, Carvana and Carmax. Pit one or two dealer against each other and get the full $21k. $60k is not right and that is the reason I said to keep your trade in separate from your purchase because they are two separate deals. The dealer is buying your truck for $18.5k leaving you a balance of $2.5k and your buying a truck for $38k. 38,000+2,500+TTL-Downpayment should equal your loan amount. Have you heard of the 20-4-10 Rule for buying a car. If not, watch this video kzbin.info/www/bejne/mYbSpYSKirpgmpo Now since this community is about helping people overcome their finance situations and get on a path to build wealth, I have to say be careful with deal and don't roll any negative equity into a loan. You don't want to work to drive a car, you want to drive a car because you work!

[@392JT]

Man I bought a 2010 dodge anvenger for my first car and I owe 10 on it and the car not even worth no where near that and I want a 2015 Chrysler 200c for 14,000 they said they’ll pay 5k for the dodge anvenger and Ik I’ll have to lay the rest witch I’m fine with because that’s a car I really want, thoughts ?

[@swankyari]

Hi Diamond, I just purchased a 2018 Honda accord 2 days ago for $27999 with a $602 payment that im now realizing its to step of a payment.. can I go to a dealership to trade it in for something cheaper...

[@DiamondEdwards]

I would check your state laws to see if you have any legal standing to return the car and see if the dealer has any policy. Most likely you are own your own. You could trade it in but that will cost you thousands of dollars. Even if they agreed to buy it back at your original sales price (highly unlikely) you would be on the hook for the tax, title, and fee you added into the loan. I'm just guessing these were added because $28k is little steep for that car. You could jump on autotrader and get an instant cash offer to get a hassle idea of what a dealer would pay you for the car. If you know you can't keep up with the payment then it is better to dump it now and accept the lose assuming its not something like $10k because a repo later will be worst. Another option is to pick up some temp work to make the payments works for awhile. If you could refinance and get a better rate in say 6 months it could save you about $50 bucks a month. I'm guess with $602/month on $28k your sitting on a high interest rate north of 10%. Cut that in half and it makes a big difference. Check you this playlist as I have few videos that will help you through this: kzbin.info/aero/PLdKOWk-Vo99x2A-yIp4I17utR-MwLAykF I'm just curious and feel free to reach out to me on IG @diamonddedwards if you don't want to answer here. What made you decided in that moment that you could make this work? Did you have a budget before you went to the dealer?