Best/easy way of getting rid of a broken car?

[mcantar18c]

Unless your payments are insane you should be able to sell it for more than you owe on it. Just meet the buyer at the bank, use his money to pay off the loan, then drive down to the local office where the title is being held and give them the pay off paperwork and they will give you the title to give to the buyer. I did that when I sold a car a year ago or so.

I've been on the buying side of this situation. Worked out well for all involved.
If you can find a buyer, this would be a good way to go. Post it up on Craigslist and see what comes of it.

He stated it was DEAD

No, he stated that it has a busted tranny. This could mean he just needs a new torque converter or some new synchros... worst case it means a transmission swap which while a PITA isn't all that difficult.