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There is no magic way to get rid of negative equity. If you do not want the car you can a) pay off the negative equity with cash and sell/trade in the car or b) trade it in to the dealer who will offer to roll the negative equity into a new loan for a car. Either way, you are still responsible for the owed money.
As stated, there is no magic pill. What do you have and how negative are you?
Negotiating and working with a dealer on a new deal can help spread the negative over a longer time period but it will end up costing additional interest over a new (longer) loan. On the other hand, selling the vehicle and making up the difference yourself may minimize the total cost of the negative equity but you may need to save cash for a while, in which case you just as well off paying additional principal on the loan every month.
You can either keep the car and continue making payments until you can break even, or sell for a loss and pay the difference out of pocket to satisfy the loan.
Anything else is likely going to cause a big hit on your credit report. If you are having financial difficulty, you can try calling the lender to see if they will work with you some how, but your still obligated to pay the loan.
Are there any decent options for getting rid of your vehicle when you're upside-down on the loan and no longer want it?
Get over your lack of want and keep driving it. Unless of course you no longer want it because you cant afford it in which case dump it ASAP.
Being underwater is meaningless. In this low rate environment extra leverage on a car is not a outright bad thing, particularly with other loans to pay.
Getting rid of the vehicle is easy enough. Getting rid of the debt is the difficult part. Either pay it off like you owe it, or roll it into a new loan or vehicle, and be more aggressive with your payments to get ahead of the depreciation curve.
And remember, the newness wears off a lot sooner than the payments!
Most loans will allow you to improve your situation by paying a little more each month. It is amazing fast 50 to 100 bucks each month will improve and/or even eliminate your "upside-down" situation.
Alos, remember this negative scenario and DO NOT repeat it in the future.
Lower interest loan so you are able to put more toward the principle vs interest and pay down the debt? That would be a win. New car and chance to reduce the negative equity over time so you eventually get out of the situation? That would also be a win.
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