considering trading in

[DAGrizzly2]

Hey im new to the club but i am considering trading in my 2011 altima coupe 2.5 s for a 2005 altima SE-R sedan. my coupe has 62,000 miles but the 05 SE-R only has 15,000. I've only had my 2011 altima for 3 months so just was wondering if this seems like a stupid trade or if its worth trading. i appreciate any feedback

[jdshift]

Hello, and welcome to NiCo! Personally, the trade would be a very good idea for the Altima coupe to an SE-R with only 15K miles.....but, I believe you would be so upside on your loan on the coupe, not worth it unless your able to make it wash. I thought I was lucky finding my 2006 Alty with only 38K a few years back, nice find none the less. Good luck.

[txchamps]

What's the amount of the original note, term, and interest rate on the '11? What's the price of the '05? I can calculate a payoff amount if you don't have it already. Are you gonna put anything down on the '05 beside your trade-in? My guess is that you'll end up with a new note close to the sum of both cars' notes, if not higher. In other words, you gotta finance the payoff. Not a good idea, especially trading from a 4-year-old car to a 10-year-old, low mileage or not. I say skip it.

[DAGrizzly2]

the 05 was listed as 13,998 but i would be getting it for 13,498 as an employee discount. They only appraised my '11 at 10,000. I went in to test drive it today bc it technically wasnt sellable the past two days when i tried but when i went in someone had already had it transferred to another location less than 12 hours of it being listed online. I appreciate the feedback, maybe i'll have better luck next time

[seldomseen]

I suspect you will be grossly upside down on a trade. Your best bet is to keep your Altima for a few years to pay the note down. If you really want to get out of your Altima be prepared to have at least $5,000 cash to pay off your existing loan. So that you don't have to roll the negative "equity" into the new car loan.