The Expert Podcast | Smart Ways To Shrink Your Car Loan Fast

Smart Ways To Shrink Your Car Loan Fast

May 15, 2025 / 04:14/E1858 Download MP3

In this episode, we cover:

What it means to be “upside down” on a car loan or out of equity
Why dealerships may refuse trade-ins when your car loan balance is higher than the car’s value
Hidden add-ons in your original loan that may be removable:
- GAP insurance
- Maintenance contracts
- Extended warranties
- Service repair agreements
- Undercoating or rust proofing
- Even potential false interest charges
How removing these add-ons could bring you closer to breaking even
What to do if you're still out of equity:
- Consider a car short sale
- Request relief or restructuring from the lienholder
The importance of reviewing your contract carefully
How to get a proper payoff amount (excluding inflated interest)
Difference between hard add-ons and soft add-ons
Exploring options to:
- Trade down to a lower payment
- Sell the vehicle outright
- Buy a cheaper car for cash
- Avoid rolling negative equity into a new loan
Why it's sometimes better to buy without a trade-in
Resources available to help:
- One-on-one live video consultations with licensed experts
- Services for contract reviews, loan breakdowns, and lien releases

💡 Need help?
Visit actualhum.com to speak with a live expert about:

📩 Have questions?
Drop your questions or comments below or click the link to book a private consultation.