Tips on Buying Cars: trade in, chrysler 300, line model

Question
I have a 2003 galant that I've had for about 10 months I owe probably around 19,000 on it. I'm interested in buying a Chrysler 300 but I don't want to high car payment I pay $400 on my galant Do you think it's a good idea to trade it in now or wait a year or too.

Answer
A 2003 Galant ES V6 (the top-line model) with every option and only 25,000 miles, in excellent condition, is worth AT MOST $9-10,000 as a trade-in right now.  That extra $9-10,000 you currently owe would have to be carried over to the new Chrysler 300, making your payment a lot more than $400 per month.  I'm afraid you'll have to keep the Galant for awhile.  Mitsubishis can be cheap to buy, but as you've just found out, they also don't hold their value nearly as well as other imports.