Upside down car loan..help please!?

I have a 2004 Mazda 3 that I owe 14,000 for. The car itself is worth 12000 and the dealership wants to only give me 11,500 for it. I am trying to get a cheaper car and wish I could lower my payments, but it doesn't look possible. They are telling me that the bank will only fiance me for 11,500. Need help! what do I do? is it possible?

Answers:
Sell it yourself and pay off the loan. You may have to dip into your pocket for the difference.

But - that difference plus cost of another car may be workable.

If dealer is prepared to give you 11,500..you can be darn sure they'll be selling it for 14,000-ish or more.

Mazda's do not depreciate much. They have a great resale value..unless they've been abused.

Good luck!

BTW: when you look for another car...try to buy it privately. But work with your mechanic so you aren't taken advantage of.
you stay with the car .
u get 2 more part time jobs.
apply extra cash to car untill u no longer upside down.
u save enough cash to buy a solid used 3-5K$ car.
u buy the new used car and then sell the albaltross car loan around your neck.
visit daveramsey.com to learn what other like u have done so u don't repeat the mistake twice.
get a budget and u'll have real control on ur money.
It seems like your stuck with your payment unless you pay the difference.

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