Maybe this is a good forum for this: Any advice on how to get rid of a car that's become a bit of an albatross? Fairly newer car, 2017, low mileage, perfect condition. Got completely fucked on the payment plan for it where they tacked on some stuff that I turned out to not even need, plus a sky-high interest rate because I let my credit get iffy. So at this point I'm gonna end up paying a lot more for the car than it's actually worth if I keep it.
Don't really need a car at this point so I'd like to get rid of it. Maybe I'll get something inexpensive to replace it, maybe not. Either way what's the best way to deal with something like this if you're inept enough to get into this situation like me? Some ideas:
1. I could sell the car to a private owner for a lump sum, which would probably pay off about two-thirds of what I owe at this point, maybe less. So I'd still be in a lot of debt and wouldn't have a car.
2. I could give it to someone else and let them take over the payments etc, though most people wouldn't want to take it on.
3. I could trade it back in at the dealership and get a better deal on something less-expensive, though I'd still owe a lot on this one plus I'd have a new car to pay for.
4. I could file for bankruptcy and just let the bank take it, which I'd be alright with at this point. Though it'd (further) trash my credit. Plus I'm not sure if I even can file for bankruptcy given that I'm not actually bankrupt by any means.
5. I could take out a phat insurance policy against arson, torch the car, then say the Antifa did it and it'd be totally believable. Potential downsides include jail time.
6. I could just straight-up pay off the entire car, though I'd be ponying up a lot more than it's worth, chalk up the lesson, and then try to get back as much of it as possible on a resale. This is the least-optimal solution given current circumstances though. Money isn't flowing like it usually does and might not be again for a while.
TL;DR: The bank fucked me, I don't really know how to handle car stuff to begin with, any advice appreciated.