Bought a new car and newer version is coming out?

In February I bought a 2013 Honda Fit with navigation brand NEW. Now the 2015 is coming out and obviously I owe more than what my car is worth because of the warranty i also purchased with it. I was wondering if anyone has ever had this happen or think possibly the dealer will let me trade my car in for an equal value of the newer car?

Of course the dealer will let you trade the car in. As long as you're prepared to pay the difference between the value of your now used car and the new model.

A new version of all car models come out every year, you don't need the newest model.

Trading in a year old car will only put your further in debt, time to start thinking like a grown up.

This happens to people all the time. Sure you can trade it in, buy you would then be stuck in the not so pleasant world of negative equity. Not a sensible financial move.

First thing for you to remember is: as soon as you drive a new car off the lot your car depreciates at least 1/5th the price to as much as 1/3rd the price. As such you could not even turn your "new" car in for another one straight across after you drove the thing around the block and then came right back. Of course standing to that is bad for business, which is why dealers allow a grace period usually to return the car and get your money back.

Unless the newest car model is substantially less than the one you bought, they will NOT trade it straight across, they will still charge you the difference, and that would probably be substantial. IN addition you got a Previous model year they were off loading at a discount to make room for the new models, that also does not help your cause.

Buying a car new from a lot is a losing proposition unless you plan on keeping it for several years. Your best bet is to buy a slightly used car, 1 or 2 years old with low miles, that way the original buyer takes the depreciation loss and you get a car at a fair price.

You are stuck, unless you can sell it to a private party for more, or you want to owe several grand on the newest car after trading your current car back in.