[airspirit]

I'm going to assume you're relatively young then, if that is the case (I'm going to assume 25). I'm also going to assume you purchased the vehicle at a GM dealer and financed through GMAC, and that you financed for 5 years (common because you wanted a lower payment). Believe it or not, you're not in that bad of shape if you've not missed any payments. Financing works like this:

Tier 1: Real estate, capital loans
Tier 2: Auto, minor capital loans
Tier 3: Appliance or other unsecured loans
Tier 4: Credit cards
Tier 5: Watercooling equipment from Danger Den (rarely on bureaus)

If you've never borked your payment with your current financier, you shouldn't be in that bad of shape credit-wise unless you're not telling the whole story (of which I am not accusing at all ... though I will have to tell you that late payments past 30 days are big black marks on your credit).

Further, since you had NO major credit on your bureau when you purchased that truck, you probably were put in a Level 3-4 credit level (toward the bottom) because it is considered high risk. GM typically charges upwards of 18.99% (thinking back to 2000) on a late model vehicle in those tiers, so naturally, you wouldn't be paying the capital of the loan yet: you're still paying interest. Plus, after licensing and tax were included, especially if you bought any warranty contracts, you may have added another $15-3000 to the mix. $8000 isn't all that horrible. Granted, you may be a bit upside-down, but depending on the model of your pickup and its condition (and miles!), you may not be THAT upside-down.

Now, with that said, I don't know exactly what type of truck you have. If you can list features (regular cab or extended, long/short bed, stepside? Air conditioning (huge)?), I can bounce it against the auction reports and get an idea of the reality of your "humptiness" (upside-downness) and see if there are any options available (there is a very good chance there will be).