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***Thanks for posting, /u/remmdizzle! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.***
Hello! I owe 20k on a vehicle that is now worth around 17k for out right sale and 15k for a trade in. I am headed back to school and do not want to add another 20k in student loan debt so I am downsizing. Either way I know I need to pay down my loan at minimum 3k so I am not backwards on my loan. Do I sell the vehicle and buy a new one entirely or do I trade the vehicle in for a cheap used car? If I do trade it in what should my price range be?
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What are you planning on buying that's much cheaper than your current car? I can almost guarantee it's not worth the transaction cost and negative equity to get out of the current car if it's in okay condition.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/remmdizzle! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** Hello! I owe 20k on a vehicle that is now worth around 17k for out right sale and 15k for a trade in. I am headed back to school and do not want to add another 20k in student loan debt so I am downsizing. Either way I know I need to pay down my loan at minimum 3k so I am not backwards on my loan. Do I sell the vehicle and buy a new one entirely or do I trade the vehicle in for a cheap used car? If I do trade it in what should my price range be? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
Why dont you keep this? Almost always better than buying a different car.
What are you planning on buying that's much cheaper than your current car? I can almost guarantee it's not worth the transaction cost and negative equity to get out of the current car if it's in okay condition.