Keep the car until you have positive equity built. Otherwise it just snowballs.

Most banks will not loan out more than NADA value of a car anyways; some will do up to 120%, but you'll get a shit APR. I just tried doing this on my S and was offered 8.9% for 63 months...that's with a credit score over 700.


Sell privately, or keep it until you are not underwater.

 

no matter what you are driving,you are still racking up miles..my s turned 134k miles and no sign of letting up.i would drive your s north of 200k miles and drive all its value out of it.you will be miles ahead and no car payments...

 

Savings wise, it is much better to keep the car instead of trading it in or whatever. It is a Honda, so it should last you well past 100k with the proper maintenance of course. As another member mentioned, just fix what breaks through the years. It's bound to happen so it isn't anything unexpected. If you're really serious about a particular color combo, maybe do a trade in for that particular combo and keep it till the wheels fall off.