<prompt> Human: I currently owe 25,000 on a car thats worth around 16-17,000. The car itself is in great condition, so theres no worries that its going to die on me. And while I can continue to make the payments on it 499month, 54 months remaining on loan, it would be a huge help if I could cut down on my payments. Unfortunately, paying extra each month is not an available option at this time.Background tl;dr info: Car loan has 25,000 remaining on it. Car is worth 16-17,000 Approximatey 8000 negative equity 54 months left on loan Credit score of around 680-690. Additional loans of 15,000 student, credit card, etc Current income 1,200month, veteran on GI Bill no part time job yet Monthly expenditures outside of 500 car payment 650 for other loan payments insurance Financial situation is stable in that, on a month to month basis, I am spending just about everything that Im getting on my GI Bill stipend but am not digging myself in deeper.Is my best bet just to ride it out and keep this car? Would selling it, taking another loan for the amount of negative equity and getting a cheaper car help? A car is 100 absolutely necessarily for me.  <response>: You didnt mention the age of the vehicle. This will not reverse you being upside down, but if you are paying a lot of interest on the car, say higher than 3. You should keep in mind your car is still considered new if it is 3 years old or less.So for instance, my local credit union charges 2 for a new auto loan. Quite a bit better than the 6 I was paying when I initially bought the car and financed at the dealship.After you have the car for a good chunk of time, youll be less upside down as the value stabilizes. You lose say, 30 driving off the lot, but value doesnt continue at that rate of decline over time, your car will decrease in value from the 16k-17k , but gradually. Your equity will increase however. Especially if you make larger payments, earlier.Never let anyone lead you with What can you afford?. What you can afford is what you want to spend. You clearly do not want to spend 500 a month. Wish I learned that way sooner myself. 