Tips on Buying Cars: trading a new car for something cheaper, gas mileage, kelly blue book

Question
I bought a 2006 Explorer about 6 months ago.  I have to travel to work every day & it gets much worse gas mileage than what I expected.  The monthly payment has become too much for me also.  Currently I am paying $530/month. According to Kelly Blue Book the value is somewhere around $20,000 but I owe $25,000. Is there a way to trade this in for something better on gas & a cheaper payment?

Answer
Hi Jennifer
To be very blunt, yes an Explorer is a pig on gas mileage...

There are a few questions that need answers without just giving you a blah blah answer like some experts would... did you buy this vehicle new or used - whats the term of your finance and at what rate,- whats your area code - what model and options- miles - when you say $ 25.000 you mean balance of payments which is about 47 months or is that your payout at this moment after the interest deducted ?, phone the lender and get an exact for now, and lets deal with it from there...

I could easy answer this Q by saying the lender could most likely build in the negative to your next purchase, but thats cheese'y and not fair to you...

Check out my website   http://www.usedcartips.org/  
 and lets go from there
Regards
Ray



Jennifer if you get back to me then check the make private box, that way its between you and i and not plastered all over the internet