How to trade my SUV for a better ride?

How to trade my SUV for a better ride? - 1

Added (1). I have a 2002 Ford Explorer I just bought it January 2015. I pay $200 monthly. It have so many mechanical problems with it and I just want get rid of it. But still have $2000 more to pay on it… I DON'T WANT TO WAIT! So My plan is to sell my SUV to a car dealer for $5000, Use $2000 to finish paying the car dealer I bought it from, then take the remaining $3000, and use maybe $2000 of the $3000 for a down payment on a Newer And Better Car. NOW, MY QUESTION IS… WILL THIS PLAN WORK? Need Help!

I have a 2002 Ford Explorer I just bought it January 2015. I pay $200 monthly. It have so many mechanical problems with it and I just want get rid of it. But still have $2000 more to pay on it… I DON'T WANT TO WAIT! So My plan is to sell my SUV to a car dealer for $5000, Use $2000 to finish paying the car dealer I bought it from, then take the remaining $3000, and use maybe $2000 of the $3000 for a down payment on a Newer And Better Car. NOW, MY QUESTION IS… WILL THIS PLAN WORK? Need Help! The thing is, nobody is going to pay you $5000 until the $2000 is paid.

And is your car worth $5000 at wholesale?

If you have only had it since Jan, that seems unlikely unless you put $5000 down.

More likely they offer you $2000-3000 in real money. Which means 0-$1000 goes toward your next car, the one you will want to trade 6 months from now.

You lose thousands in value everytime you trade. Simple. Walk into a dealer, sell them your SUV (trade in) and take the money they give you and go buy something else.

The problems happen when you still owe money on the SUV. Instead of taking that money and buying something new you have to pay off the old loan first then take whatever's left and go buy a new car. You can trade even for another SUV or truck (depending on SUV type) or better by adding another bargaining chip to the offer (money, bike, etc) or you can trade up by switching to a car or something smaller. You could sell it yourself and then go buy another vehicle. You could also take it to a dealership/used car lot and see what you can do. Before you do anything, you need to find out what the SUV is actually worth. To do that, call your local bank/credit union and ask them what it is worth.

Simple. Walk into a dealer, sell them your SUV (trade in) and take the money they give you and go buy something else.

The problems happen when you still owe money on the SUV. Instead of taking that money and buying something new you have to pay off the old loan first then take whatever's left and go buy a new car.

You can trade even for another SUV or truck (depending on SUV type) or better by adding another bargaining chip to the offer (money, bike, etc) or you can trade up by switching to a car or something smaller.

You could sell it yourself and then go buy another vehicle. You could also take it to a dealership/used car lot and see what you can do. Before you do anything, you need to find out what the SUV is actually worth. To do that, call your local bank/credit union and ask them what it is worth.