I bought a NEW car that is more than I can afford. What are my options for scaling down into a different, less expensive car?
by 
marizona
ANSWERS: 1
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I think you know your options, but it's hard to admit one has made a mistake. The best option is cut your loses now to minimize the mistake. You are going to lose money. Sell the new car and get something more cost effective that fits within your budget. You will get more for your new car if you sell it to an individual and not trade it in to a dealer in a deal for another car. You won't sell it for what you paid for it. Accept the fact that you will lose money with the transaction. Consider your plight as a damage control mission. Learn from your mistakes.
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