What is the best advice for someone that has a $10,000 negative equity in a car loan?

I purchased a 2005 Nissan Altima , with no money down and received a $1850 cheque back from the dealership . Now I am looking to trade my Altima in but have so much negative equity in my present car loan . Is there any logical advice for me to break even on my loan .What is the best advice for someone that has a $10,000 negative equity in a car loan?
Don't take out such a crazy loan next time....................





Keep driving the car that you have and stop wasting your money.What is the best advice for someone that has a $10,000 negative equity in a car loan?
The best advice I can give you is for you to keep your Nissan Altima until the car is paid for.
Just keep it, drive it and never do what you did again. You won't break even.
There is no way to break even. You may be able to refi. with that car and your new one. You will be paying for both cars with your monthly payments as long as they are not over the price of what the new one it worth. Talk to your deale and see what he can do for you.
You have a huge amount of negative equity. The best thing for you to do is keep making the payments. You are not in a position to trade or sell the car without it costing you a huge amount of money.
Well, this happens to just about everyone. All u can do is continue to pay until what you owe, breaks even to what the car is worth. Or cough up $10K. It takes a few years %26amp; I feel your pain.
Probably not, But you may consider a lease purchase, However this is allot of bad money.
Hey, you should listen to or call in to Dave Ramsey he'd give you some great advice! On the radio weekdays from around 12-5ish depending on where you live.!
My advise dont buy another car unless your altima is falling apart and you need to keep a working car around because if it dies and you owe 13,500 you still owe 13,500 even if you cant drive it so save 10 grand and buy a house before a new car good luck.





How a bank let you get UPSIDE DOWN 10K is just KRAZY
Gosh, I would just hang on to the car at this point. Why do you want to trade it in? Do you dislike it that much?





Effectively, that NEW car you want to buy is going to cost you an additional $10,000 because of course the bank for your old loan is not going to let you walk away scotch free. I would trying selling it on the private market. Dealerships are notorious for ripping off trade-ins and selling them almost immediately on their lots for a nice little profit.





Many years ago my mother bought a truck for $21,000. She decided she hated it, and without consulting the family, turned around like 2 weeks later and traded it in for $14,000 at the dealership. OUCH