If you need to get out from under hefty car payments then there are several other strategies to consider. Struggling to make payments on your car each month suggests that a different car with a lower payment is a better fit for your budget. Love your car and do not want to part with it? Speaking with your lender may result in lowered monthly payments through a modified loan agreement. 

Selling your car frees you up to find a great used car at a lower price point. Before you sell your car to lower your monthly payments, make sure you know the worth of your vehicle.

If you still owe money on the car you want to sell, then the price you sell it for must at least cover the unpaid portion of the loan.

In some instances, potential buyers may simply assume the payments. Most do not and it is a risk on your part because if the person defaults on the payments you are often still on the hook for anything left unpaid. 

The paperwork involved with assumption is also a headache, and many lenders refuse to accept it. 

A better strategy is to simply discuss your car payment struggle with your lender. 

In most instances you enter into a modified loan agreement with the lender. These modifications often include skipping a few payments to catch your financial breath. If you opt for this, lenders tag those skipped months to the end of your loan. 

Other options often include waiving fees, safe drive discounts, or an interest-only payment for a period of time.