If you originally bought the car from a dealership, contact the finance manager. Tell him or her you want to stick with the same make of car, but you'd like to trade in what you have for a less expensive model, says Lauren Fix, an automotive writer, commentator and blogger from Buffalo, N.Y., who goes by the name Car Coach on her website.

"The dealer wants you to stay with their brand and they want your loyalty," says Fix.

In addition, some carmakers like Hyundai have a very consumer-friendly return policy. According to Hyundai's website, if you buy or lease a Hyundai in 2010 and there's a radical change in your income after the purchase, you can return the car within 12 months of purchase.