Extending your car loan is a realistic way to solve the problem, says Williams. Or, you can ask your lender if it will allow you to move two payments to the end of the car loan's term.
According to Fix, car loans can be refinanced in some cases. To see if you can get a lower interest rate than what you have now, visit Bankrate.com and see what lender is suggested. The refinance application will ask for your pretax income, your current monthly payment and the interest rate you're now paying.
"If you owe more on the car than what it's worth, refinancing isn't possible," says Fix.