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If you can sell the car for $4000, then you can use that to pay off the loan. (You need the bank's permission to sell the car because they have a lien against the title until the loan is paid.)

You can't just "switch" cars. You can sell your current car and buy a new one. I doubt you'll sell your current car for more than you will spend on a new car, so selling this one and buying a new one means that you either need to take money out of savings or you need another loan.

You're unlikely to get that other loan.

who's the important at the account, you or her? Regardless of who it's, you must name the mortgage corporation and tell them of the drawback. (the important individual is mainly the individual who will get essentially the most telephone calls). Give them the entire know-how that you've on her. Phone quantity, paintings quantity, new cope with, paintings cope with (when you've got it). This will support in monitoring the vehical in the event that they do ought to repo it (and fee you much less ultimately) Also, when you do voluntaraly reliquish the vehical, it'll fee you much less ultimately. you must additionally dossier a police record. Im now not certain if you'll mark it as stolen considering that she is a co-signer however it's either one of your homes. If she denies that she is aware of wherein the automobile is, then record it stolen RIGHT AWAY after which flip over the know-how for your mortgage corporation. The police might let you know this can be a civil subject and also you ought to take it up in civil courtroom. if that's the case, attempt to seem for what your authorized choices are. Since you each signed the contract, you each are nonetheless accountable for the repayments.