Hello, I recently tried to refinance my auto loan on my 2007 Nissan Murano, to only be told that the value of my vehicle is to low to refinance. My monthly payments are very high and are getting hard to maintain. I was just wondering is there anything else that could be done, or are there any ways out of this?
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when you finance a new car your are upside down as soon as you drive it off the lot.
Best you can do is sell the car on a private sale and get a personal loan for the difference in the selling price and what you owe.
Pay more to reduce the balance on the loan so that it is no longer less than the value of the vehicle.