Hi,

I just recently purchased a 2003 Ford Ranger Edge SuperCab Plus Pickup
while living in Florida so I could tow my jetskis.  I recently got
transferred to Virginia and due to some other life changes coming up,
I really need a car rather than a pickup truck.  My question is
whether there is any way to get out of my current situation and if so,
what would be the best approach?  I am looking to trade my truck in
for an older car such as a Honda Accord.  I currently owe about
$23,000 on the truck and carried over quite a bit of negative equity
from my Eclipse.  The truck's MSRP's p is $23,920; however, trade in
value on Kelly Blue Book is only $15,475.  Is it possible to get out
of this truck or do I need to keep it for the remaining years?  I have
a 6 year loan at 7%.  Thanks in advance for the advice/info!

Getting out of your situation is not problem, assuming you are okay
with taking a loss on the deal. Your best bet will likely be to sell
the truck privately and then either continue paying off the payments
(using your sale proceeds to buy another car for cash), or put in the
difference and pay off your bank and be free and clear.  You can also
trade it in to a dealer, but expect much less of a return.  The
downside to selling it yourself is ofcourse the hassle, taking the
risk of a lengthy time to sell, and having to make yourself available
to strangers for test drives and inspections.