Tips on Buying Cars: voluantary release, first time buyer, hi bob

Question
I have a 04 kia that i have been paying on for a year.  still undew bumber to bumber.....i owe 16,800 of course that is finance charges. i have paid on time every month for over a year... $343...for this little piece of a car...thr kbb says abouot 7 grand is the trade in value...and the car is just like new..my interest rate was like 17.95...1st time buyer..no car credit then. i am considering returning this car..taking it to the dealer and telling them i dont want it..i dont want a repo on my credit but i aint paying the amount owed for this car..i figure i can get something else even before this goes on my credit...the only other option i figure would be to go into my savings and pay the principle amount off...any advise..from a buyers point of view not the seller?   thanks  zip code 75252

Answer
Hi Bob
If you ever want your credit rating to be perfect bite the bullet and pay of the loan with your savings

Here is why your little plan wont work
The moment you apply for another car loan your Kia will show up on your credit bureau, and the lender will calculate your reported income VS your current expences,and its my guess you will be turned down as a high risk

Your only choice is to trade , this is an area i can help you with,i need to know your principle payout , and being a first time buyer the only reason for being at a high rate ? - as lots of allexpert Q's are posted, if you care to answer and keep it more private contact me at paulsenray@yahoo.com

Regards
 Ray