How to trade in to a newer Ford Explorer?

Ok I just bought a used '03 Ford Explorer the February before last so I still owe on it for another 2yrs. Its got exactly 136951 on the odometer looks good inside & out has a few minor flaws as any suv with this many miles would. I've never been late on a payment or anything. I would just like to trade up to a newer explorer like an '05 or so at an actual Ford dealership & get one with a warranty & less miles. I dnt make much yearly but like I've said I've never been late on a payment plus my credit was about 620 or so last time I checked it should be higher just hadn't checked it recently & locked myself out of my credit karma account bc I forgot the password. So I ask being that this was the 1st car I had purchased in my name from a used car dealership i'm only 26 yrs old & still owe on my current vehicle is it even possible for me to go to a respectable dealership like ford & buy a newer suv without needing a cosigner? If so how much will do you Thnk they'd want for the down payment?

First thing you need to figure out is what your car is worth and how much the pay off balance is on the loan. You can find the trade in value at KBB.com.

It sounds like you may owe more than the car is worth. So you would need enough money to make up the difference. Then you would need additional money for down payment. Minimum would be 10%. A bigger downpayment of 20% or more would be better.

If its in good shape and running good, don't trade it in. You'll likely end up owing more on the car you buy than what it's worth the day you drive it off the dealer's lot. Explorers will run 250,000+ miles easy if you keep up on maintenance, and you'll save yourself a boatload of money on interest.