Replying to Somebody explain negative equity in dumbass terms

Hey y’all,
so last spring I bought a vehicle I thought I could afford cuz I was makin big money at a job, but unfortunately the company kinda went under 2 months after I got the car. I owe about 23k and making payments with rent has been kinda a struggle.


I am loooking to ideally get payments under $300 by going back to the same dealer and trading my car for a car listed at half what I owe on my current one.



woukd this accomplish what I need? Or is it a smart deal?