Used Cars: buying a new car, chrysler dealership, chrysler corp

Question
In Oct. I bought a 2004 Chrysler PT.  I put $4000 down and still
owe more than 7,000 on it.  13% is my percentage rate.  Could I
use these facts under Chrysler's new buying offers to get a newer
car for the fact that the value of my present PT has gone down al-
most 50%.  It doesn't seem fair to owe all that on a car that is
so devalued.  In other words, would they exchange owing $7000 for
a newer PT vehicle?  That is, I might still owe close to 7,000
but at least it would be on a newer car.  Any help you can give
I would appreciate.

Answer
Hello and thanks for the question. First of all your current situation is between you and the "dealer" you bought your car from not Chrysler Corp. they didn't have anything to do with you buying a used 2004. Your interest rate also has nothing to do with Chrysler unless you are financed with Chrysler Financial. Cars do depreciate very rapidly so when you finance a vehicle it is going to "devalue" faster than you can pay it off.  That is a normal accurance.One thing you can do is go to your local Chrysler dealership and have them run some numbers for you, it wont cost you anything and they can tell you what your options are. However I would advise you that is not a good idea to go further into debt just to have a newer car. Remember that the "new car" will depreciate much faster than you current vehicle and you will be in a much worse position than you are today.If you like your car and there isn't anything wrong with it the best thing you can do is pay down your loan as fast as you can and don't try to "buy" your way out of this.  I don't know if this was the answer you were looking for but I hope it helps. Good Luck, Shane