Seeking advice on how to get out of auto loan debt
Hey everyone, I have a 2024 chevy silverado that I owe 45K on, 12k of that is rollover from when I had a 2024 subaru forester. My issue is that I am making $724 monthly payments at a 7.5% interest rate, and it is becoming a big issue. I am trying to figure out how I can get myself even a little bit out of this hole. I do not need the truck and I would really like to sell it and get a cheap used vehicle, but I don’t have any cash so the only idea I can think of is to take out a loan for the amount of the payoff estimate. Sell the truck and use some of the money to buy a used cheap car and put the rest of it back into the loan. But if I do that I don’t imagine I can get a loan for 45K at or below a 7.5% APR, so I don’t really know what my options are or what the best route would be.
If anyone has suggestions, similar experience, or advice I would greatly appreciate it. Thanks
Posted Nov 2, 2025, 12:08 AM UTC