No, the amount that you currently owe on the vehicle is the balance on your loan. That is the amount borrowed minus the principal paid on the vehicle. therefore that amount IS what you owe. It is different with a lease because you have the total number of payments as your balance, so they can negotiate lower if need be.

No you entered into a contractual agreement to make a certain # of payments at a certain agreed upon price.

With a lease the lessor is usually worried about what the vehicle will bring at auction and how much it will cost them to get it to auction. And you have completed the contractual portion of your agreement if its paid off, so they can cut a deal on the lease end value.

I hope this helps.

No.

You can’t borrow money from someone then turn around a negotiate a lower payoff amount. They will laugh at you if you try.

“I borrowed $10 but I’ll pay you back $8. Deal?” The answer will be NO.