OT: Need loan advice

Long Story short: After getting my 1998 Century back from the body shop today, and finding out what I had begun to suspect, I want to get rid of it.
When I purchased it used roughly 2 years ago(before I started do some work for a used car dealer), I planned to keep it until Fall of 2006, then buy a new car. Which is when I would have it paid off, I had even thought about keeping it long term as a beater.
Currently I owe way more then privet party values, let alone resale values. So out right selling it is not an option.
I have it financed thru GMAC (not their fault, I should have inspected the car better). I would love to clean it up, so it looks better then when I got it (it almost does now), and find a way to get out of my loan with out making my credit any worse. Since Ill need to buy another newer car for my mother.
Any advice? Charles
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

I buy all my cars cash and don't take on payments, so I'm shooting in the dark with the advice....
1) I believe there is a way to sell it and make the next guy "finish the payments" where the person is then responsible. Check with GMAC on how that is transferred. MAKE SURE it is, so you're not left holding the bag.
2) Why sell it? A new Century is NOT that much different than your current one. Nothing has really changed for the better here. You're ok as is.
3) You may be able to trade it in against a new car and some of the debt "goes away" /is transferred into the new car. Damn sure you'd better not miss a payment or your credit will sink like a rock.
4) You may be able to get something through GM as a "repeat buyer". I know when I was "considering" new cars in light of the recent Cavalier head gasket issue, I found out I could buy a GM car at wholesale/employee cost through my uncle since he is a fleet buyer in NJ and GM give him a car + dealer's transaction fee.
5) If you use a GM credit card, you get points against a new car. My sister's father in law does this.
Some ideas, again shooting in the dark. Everything I own is paid for or came at next to nothing :). LOL.
Joe--ASE Certified Parts Specialist & 10th Ann.Club Tech Director '80 Carousel Red Turbo T/A, 27k orig. '79 "Y89" 400/4 speed 10th Ann. T/A, 57k orig '84 Olds 88 Royale Bgm 2 dr, 307 "Rocket" (lol), 143k and still going.... '91 S10 Blazer 4.3Z
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.