I currently have 2 cars that I would love to get rid of and replace them with something less expensive and that get better gas mileage. Both are much bigger than I need and don't get great gas mileage. If I can find a way to get out, it would allow me to free up more cash for debt elimination as well as give me some general breathing room.
The problem is that I bought both brand new and financed the full cost of both cars. I'm now completely upside-down on both of them owing about $7000 on each loan or a total of $14,000. It kills me when I see this number.
Is there any way to get around this obstacle? What is the best thing for me to do in this situation? Any help would be greatly appreciated.
The problem is that I bought both brand new and financed the full cost of both cars. I'm now completely upside-down on both of them owing about $7000 on each loan or a total of $14,000. It kills me when I see this number.
Is there any way to get around this obstacle? What is the best thing for me to do in this situation? Any help would be greatly appreciated.
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