Underwater loan

Asked by GuruB7DRC Apr 24, 2019 at 12:24 PM about the 2017 Hyundai Sonata Hybrid Ultimate FWD

Question type: Car Selling & Trading In

How do I sell a car that’s underwater? I have
several dealerships interested but none cover the
total amount owed.

1 Answer

F_O_R answered 5 years ago

You come up with more money to pay it off or you try to finance an even bigger loan to cover the loan balance (really BAD idea!). Your best choice is to keep driving it and paying on the loan. Check the private party sales price to see if it is enough to pay it off.

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