Q. How difficult is it to pay off my car at the current Kelley BB value?

A. If you buy a car or truck with a loan from a bank or finance company, you must repay the amount of the loan. The vehicle's current value has nothing to do with how much you owe.

We suspect that you're asking about this because you owe more on your car than the Kelley Blue Book says it's worth. That's called being "upside down" on your loan, and unfortunately, many vehicle owners are in that position.

But your lender doesn't care. It will expect you to repay the balance on your loan, no matter what your vehicle is worth. If you don't keep up with the payments, you'll default, your car or truck could be repossessed and your credit score will go down drastically, making it difficult and expensive to get credit cards or future loans for cars, homes, furniture or other major purchases.

There is really no other way to handle the situation.