Are you upside down with your car loan?  This means you owe more than the car is worth.  Has your financial situation changed where you are having a difficult time making your car payments? Are you not satisfied with your car? This is not an unusual problem.  There is help for you.

• First, find your loan contract.  Look at the terms.  How many months is the loan for?  What is the interest rate?
• Read the contract to see if there are penalties for paying off your car loan early.
• Call your lender to find out the way to payoff your car loan.
• Find out how much your car is worth.  You can go on the internet and find the value of your car.

Once you are armed with this information, you are now ready to see what options are out there.  There are several possibilities for you!

• If you have just purchased your vehicle, there is usually a window within the first couple of days that you are able to return the car with no penalties.
• If the car is not operating properly and the dealer cannot repair your problem, check and see if there is a “lemon law” in your state.  If your car qualifies and your state has the law, you may be able to be released from your loan.
• Is your interest rate extremely high?  Your lender may have illegally charged you too high of an interest rate.  Once you point this out, your lender may refinance your car loan at a lower interest rate.  This would lower your loan payments.
• You may not be able to pay your car payments at all.  You would need to sell your car or find someone to take over your car payments.  Usually, this requires the lender to approve.

You might need to just get lower car payments.  This can be accomplished by refinancing your current auto loan. Find an experienced car lender that specializes in financing car loans. At Loanstore.com, their auto financing experts are ready to help you.  They can possibly lower your interest rate and/or extend the length of your contract.  Both of these options will lower your car payments.
If you are having a hard time making your payments, you need to take action today.  You do not want to do anything that would damage your credit.  Be proactive! Your credit score stays with you for life.