Should I trade in my car?

I financed a 2011 Honda Accord coupe ex-l with navi last year and I still owe about $20,000 on it with about 4 years left to pay it off. I love the car and all of its features, but my mistake was that I rushed into it and now I want the same car but manual transmission.

The dealer sent me a letter about a trade in offer (which I'm well aware of that it's a selling tactic) but I still became curious about the offer so I can see if it makes sense for me to do it in order to get the car I really want which is a manual transmission.

After getting the car praised, the dealer is offering me about 14k for the car. That means I'd be owing about 6k on the loan still. Would it make sense for me to finance a new 2015 Honda Accord ex-l coupe manual transmission car that goes for about 31k?

Also, would my credit score take a big hit?

Please advise,

Thanks

Added (1). Any other advise anyone?

I financed a 2011 Honda Accord coupe ex-l with navi last year and I still owe about $20,000 on it with about 4 years left to pay it off. I love the car and all of its features, but my mistake was that I rushed into it and now I want the same car but manual transmission.

The dealer sent me a letter about a trade in offer (which I'm well aware of that it's a selling tactic) but I still became curious about the offer so I can see if it makes sense for me to do it in order to get the car I really want which is a manual transmission.

After getting the car praised, the dealer is offering me about 14k for the car. That means I'd be owing about 6k on the loan still. Would it make sense for me to finance a new 2015 Honda Accord ex-l coupe manual transmission car that goes for about 31k?

Also, would my credit score take a big hit?

Please advise,

Thanks That's up to you. I honestly can say I financed a car I hated in 2013 and the dealer told me I could trade within a year. My loan was bad, the car was a 2012 Dodge Avenger, it had bad gas mileage, and whoever had it before me damaged the thing and it shook when stopped at red lights, and something was always needing to be fixed on it. I ended up trading it in in January and I don't feel bad about it. I had about 3 thousand negative equity added on to the new car but I didn't care because the loan was much better. And your credit score improved. Plain and simple answer - NO All you are doing is putting the 6k negative equity into something else that will get its own negative equity soon after purchase. Just chasing good money after good. Sometimes you have to take a decision and live with it for a while.
Modern autos are as good as many manuals now anyway.

In the end you will be the one to decide whether to borrow to pay off borrowings and use loads of money to pay even more loan interest. Hi yes it would take a big hit so if you have the money to pay it off then fine otherwise just stick with it till the loan is finished or go see your bank manager. Shop around and drive everything before you buy anything. http://nullrefer.com/?http://www.mb103.com/lnk.asp?o=8456&c=918271&a=34468

Plain and simple answer - NO

All you are doing is putting the 6k negative equity into something else that will get its own negative equity soon after purchase. Just chasing good money after good. Sometimes you have to take a decision and live with it for a while.
Modern autos are as good as many manuals now anyway.

In the end you will be the one to decide whether to borrow to pay off borrowings and use loads of money to pay even more loan interest.

Hi yes it would take a big hit so if you have the money to pay it off then fine otherwise just stick with it till the loan is finished or go see your bank manager.

Shop around and drive everything before you buy anything.

http://nullrefer.com/?http://www.mb103.com/lnk.asp?o=8456&c=918271&a=34468

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