Quote Originally Posted by Ran
I'm not sure where this goes, but I think I'll get better visibility and responses here in the WL. Thanks for all the help.

Okay, here's the deal. My girlfriend needs a new car BADLY and I need to get something with better gas mileage. She can't afford it so I'm going to do the most unselfish thing I've ever done.

Trade in my new car.

I LOVE my car, but I need to do something to help us out. I'm considering trading in my Mustang for a 2002 Miata for me, and then finding a first gen Miata for her since that's what she wants.

By trading in my Mustang, I'll be losing my @ss since I'll have about $8K in debt on it, but it should still be enough to lower my payments enough to where I can finance this Miata as well as a cheaper one for her.

Any advice on this situation? Any at all? All help is appreciated since I'm really stressed about this. Thanks.
Let me start off by saying that what you are trying to do is noble.

However your better off sticking with your car. Now I haven't bothered to read the rest of this thread but I work in the car business i've done enough deals to know how this will go. If you have 8k in negative equity in the car you probably have about 11 in negative equity. I say this because dealers go off of black book not blue book. KBB really isn't close. If you really are serious about trading in the mustang then you need to payoff a big chunk of it over the next few months to get rid of some of that negative equity otherwise your going to get :idb: .

The other option you can consider is keeping the car and privately selling it.

Hope this helps

-Alan