OK, so the problem is, i owe more money on my car than i can realistically expect to get out of it by sale to a private party, and i refuse to deal with a dealer again.\

i always lose my shirt.\

fear not, however, i do have a plan. the unpayable balance on the vw golf is roughly $3k. i can realistically expect to get between $10k and $12k more likely lower. that means i owe roughly $13k. how did i get into this mess.\

so anyways, my solution is like this: i got preapproved for ANOTHER loan, at a much HIGHER interest rate, to cover the balance on the vw, and allowing me $2k for an interim car that isnt going to die. i’m thinking of a ‘65 el camino.
so my current loan isn’t actually that bad, its at 8.75%. the new loan, since it is not a “buy a new car and spend lots of money” loan, is basically unsecured, no collatteral, so it has the very attractive rate of 12.75%. yay.\

so theoretically, i buy a ‘65 el camino. i pay down the $3k discrepency on my vw loan. i find a buyer for my golf. i now have LOADS of monthly cash flow to pay down the $5k high interest loan. i have nothing holding me. i am happy, and i am free.\

one can only hope