<prompt> Human: Outcome: So I think what I will do here is pay off the loan faster - then be sure to have a larger down payment next time so I dont get stuck in this situation again. The up side is my credit will be a lot better as well and I have a car right now that is doing me very good. Hopefully this question helps anyone that may also be curious about how this stuff works. Thank you guys again - much better explanation than what I got from asking parents. I have some questions about trading in a car which I am currently still paying off and how that whole situation works...Right now I have a crossover in fantastic condition without any problems, the total loan was for 13,000 approx 2 years ago, as of today I owe 9,300. I have already put 15000 miles on it since I purchased it.I was looking at a vehicle which would be much better suited for my family and needs life changes quick! . I have done some extensive research and the car I would like to purchase is valued at 12,000.Another reason I am looking into trading my current car in is because although I purchased the car for 13000 it is now worth just 9,000 private party and the dealer offered 6,000 for a trade in value.How exactly would this situation work? Would I need to pay money down? Would I be able to get a better rate since I have kept up with all my payments? What should I know before going to the dealer?I am super worried if I wait any longer my car will continue to depreciate and be worthless when I am done paying off the loan. But as you may have figured out already this is my first financed vehicle and I am not knowledgeable beyond what I have already done.Any suggestions or tips would be very helpful! If I am leaving out any important info let me know and I will be sure to fill in any missing details.T I A  <response>: Unless this new car is a necessity, its probably best to wait until you can better afford it. 