{"id":823030,"date":"2019-12-13T13:16:08","date_gmt":"2019-12-13T18:16:08","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=823030"},"modified":"2026-01-16T17:46:31","modified_gmt":"2026-01-16T22:46:31","slug":"get-out-of-bad-car-loan","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/get-out-of-bad-car-loan","title":{"rendered":"7 ways to get out of a car loan"},"content":{"rendered":"

Whether you want to get out of a bad car loan to balance your budget or save for other expenses, there are seven ways to get out of a car loan. Let\u2019s walk through your options, which include refinancing, selling, downsizing, negotiating and more.<\/p>

1. How to get out of a car loan by refinancing<\/h3>

Refinancing your car loan<\/a> involves taking out a completely new loan with a different lender to pay off your current car loan. You get different rates and terms. Plus, it gives you an opportunity to change companies if you\u2019re unhappy with your current lender.<\/p>

You can benefit the most from refinancing if your credit, income or other aspects of your personal finances have improved since you first took out your car loan. But even if it\u2019s stayed the same, compare refinancing offers to see if you qualify for something better.<\/p>

However, if your credit score<\/a> has gone down or your finances aren\u2019t in great shape, refinancing might not be the best way to get out of a car loan.<\/p>

Refinance your car loan<\/h4>
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