how can i get out of a car loan and into a newer car without paying too much?

Question

I owe $8,000 on a 2002 mini-van but would like a newer car, i want to know if it would be best to sell my car out right and then re-purchase or if I have any other options...and how i can get a lower interest rate.Current is 18%!!!!!!!!!!!!!

Answer 1

Keep what you currently have until you have paid it off, then you can trade it in (and if you pay it off on time you might even get a lower interest rate).

Ignore any spammers that post ads for loans here, you don't want to be taking out another loan right now.

I would also say that if you've got an interest rate that high that you might have problems with managing your money.