<prompt> Human: Hey guys, I bought a Honda Accord V6 Sedan last year and financed it for 4.89 interest. My monthly payments are about 589, and I have about 25,000 left on the car. I now realized that I really dont feel like paying such high payments, and would much rather have a used car. According to Kelley Blue Book, my car is worth about 23000 if Im lucky. I have already put 40,000 miles on it due to my commute to work. I am looking at older models like 0809 of Subaru WRX. I am a recent graduate, have a decent job, and good credit 700 and am looking to get rid of the 2014 Honda for something cheaperolder. What are my options? Can I trade in the Honda at a dealership for a Subaru?Do I have to transfer my current loan and interest rate to the dealership?Please help!EDIT: I suppose I should mention that I recently started carpooling with a coworker who happened to live close to me. He is willing to drive most of the time as long as I give him some gas money. So, from here on, I will not be putting 40K miles a year on the car. EDIT 2: Thanks everyone for your input. I read all replies, and have decided to refinance the car for a better interest rate with my improved credit score. I will also continue to pay high monthly payments more than the minimum payments required for a few more years until the car is worth more than I owe. After that, I will reconsider my options and see if i should keep the car, sell it, or trade it in.  <response>: If you are just looking to lower your payments you can refinance it and extend the term. You should also be able to get a better rate than what you currently have with your credit, probably between 2-3. You may end up paying a bit more interest by adding time to the loan but your payments will come down if thats your ultimate goal. Trading in and taking a loss only transfers that negative equity to your next car, which may cause the rate on that loan to increase if your loan-to-vale goes up. 