Tips on Buying Cars: Wanting to Trade but upside down, ford explorer xlt, 2003 ford explorer xlt

Question
I have a 2003 Ford Explorer XLT.  Rececently I went to Carmax to see what they would give me for it.  They said they would give me about $7,000 for it.  I feel that it's worth more than that.  I still owe approximately $18,000--yes, I made a big mistake of purchasing this vehicle while being upside down in the previous vehicle.  I have about 95,000 miles on the vehicle right now.  I really want to trade it before it gets $100,000.  I purchased the vehicle with 59,000 miles already on it.  My question is if I try to sell this vehicle on my own; I'm sure I won't get what I owe for it, but I know that I can certainly get more than $7,000 for it.  Just say I sold it for around $15,000--and that leaves me a balance on my loan of about $3,000.  How could I get the title to give to the buyer, and being that I don't have $3,000 to pay off the loan immediately, what could I do?  I've been told that I could let someone just take over the notes--how would I do that?  I would certainly want the vehicle out of my name at this point.  Please advise!  Thanks!

Answer
Hi Tam,
First, Carmax is the best bet...No bank will finance a 2003 with almost 100,000 miles on it. You also DO NOT want someone to take over the payments as you will still be responsible, and if they do not pay it is your credit that will be severely damaged. If it runs fairly well i would probably keep it awhile as your choices are not very good. I am sorry i cannot offer you any better solution but without you coming up with the substantial cash you are kind of stuck. Good luck!!

STEVE