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How can I get out of an upside-down car loan on my Lexus RX 350?

"I'm $8,000 upside-down on my Lexus RX 350 car loan.

Is there any way to get out of this upside-down loan?"

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Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You certainly could trade your car in, but you’d have to roll over that $8,000 into the new loan, which effectively puts you even further upside-down.
The best plan of action is to put money toward the principal of your loan each month.
Doing so will shorten the length of the loan as well as quickly get you closer to a break-even point.”
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