1. Find a car with a large factory rebate(some are over $6000.00). Some lenders will allow you to use the rebate as cash down. Put down some additional cash to help with the payoff of your car, and negotiate the price of the new car down to invoice or less, and you may be able to get out of your current car.
2. If its a lease you are in, there is a service called "swap a lease" which may be able to help. They can be found online by doing a search.
3. Contact the lien holder and find out if they would be willing to refinance the car for a longer term yielding lower monthly installments.
4. Try to find someone to take over the payments.
5. Do voluntary reposesion.
Based on a 30 year mortgage with a 4.5% interest rate, you could afford a house that was worth $230,025
You could try refinancing for an extention, for example; if you have 12 months left to pay, get a loan for 24 months. You will end up paying more interest in the end, but your payments will be lower. Another option, sell the car for what it is worth then get a loan to pay off the rest of the car in order to get the title and sign it over to the new buyer. The difference ($4000) you had to take a loan out for can be paid off a bit easier than the whole amount. Another option, get a second job to afford the car.
Time for a second or third job.
I would recommend that you buy an SLR if you can afford it. They are well worth the money. They can zoom in far and have many options to make your photos unique.
This may come as a shock...but one doesn't just have a right to have things they want...and they should expect major disappointments if they think others should give it to them. But it's a rhetorical, self answering question. You can't afford to have what you can't afford. So, when you find out how to afford what you can't afford, as that trick would be worth billions, you would be able to afford it! Otherwise...begging, stealing or marrying the money is your best alternative.
Sell the car person-to-person. Never take it to a dealership to sell or trade, you almost never get what it is worth. If you cannot sell the car, try refinancing. You'll get a higher APR and pay more interest in the long run, but you can extend payments and keep your car (plus afford the payments). give the car back buy a 500 dollar special, spend the car payment on the kid
My parents have had to refinance due to the monthly payments being unreasonable for the income. Refinancing is done through the bank. They come out and evaluate how much the house is worth and suggest options on payment.
whatever you do, don't let it get reposessed or voluntarily give it up. Your credit will be ruined for 7 years and you will still have to pay the difference between what they sell the car for vs. what you owe on the loan. If you don't owe that much more than it's worth try trading it in on a cheaper car and roll the difference onto your new loan. You'll be paying for it longer but your payments will probably be a lot less. Or sell it yourself (you'll get a lot more) and pay the difference to the finance company out of your pocket. If you owe a lot more than it's worth you're just going to have to suck it up and make the payments. If you don't you will regret it.
A nice man/woman called a recovery agent will come and pick it up.
If you Have to ASK YOU CANT AFFORD IT
It means you can't afford one.
A mortgage calculator can be used to find out if it is worth it to refinance your monthly payments, if it will lower your payments and if you would save on interest and fees. By entering your data you can decide if it is worth it to refinance your home mortgage.