What to do with money pit car?
I have an absolute piece of shit vehicle I’ve been burdened with for the past 4 years. I was going through an awful time in my life when my reliable (but very old) car died, and made a terrible rash decision buying this used lemon. I have had to put thousands into it, it needs more work now, and I’m just done.
This is the first time I’ve ever had a loan on a vehicle; I’m in my 40s and have always bought used, outright. I currently still owe about $2900. I don’t have the funds to pay it off. I’m single and the budget is TIGHT. I have zero clue how this works.
Basically…can I trade in this POS while still owing the bank? How does that work? Online the high/low trade value at the dealership is $2400/$1590. So obviously less than I owe. I’m a woman and super self conscious of going to a dealership and looking like an idiot.
I would rather take another loan on something that isn’t a lemon. How do I offload this thing??
Thanks in advance for any advice!