Can you help me decide if I should trade in my car?

-Right now I have a 2002 Jeep liberty with 81k mi on it (basically 20k is highway mi) and I want to trade it in for something with better gas mileage since I drive 70+mi/day with work and school



Now heres my situation since I drive all those miles the car is worth basically worth the same amount as what I owe (8k) and I want to know if the dealership would take my car then pay off my loan and let me start a new loan on another car without putting a down payment? (lol i know highly unlikely)

& i would like to know if its evn worth putting a car in my name right now evn though its under my mothers and i have a really good interest rate of 3%

ahh im so confused and i really need some input from someone. help!Anytime a dealership gets a chance to make a profit they'll take it. What I can see possibly happening is the dealership will only give you lets say $7000.00 for your trade in when you owe $8000.00. They'll tack that extra $1000 to the purchase of your new car loan so now your upside down on the new car before you've even taken it off the lot. Another gimmick the dealer is going to try to screw you over with is tell you they can only finance you at lets say 5% but in reality the bank is willing to finance you at 4%, guess where that other 1% goes? Straight into the dealerships pocket. So now they not only made money off the car you traded in they made money off the car your purchased AND the interest rate they charged you. Do yourself a favor don't rush into the purchase of a new car, take the time to find out exactly what your car is worth if you trade it in and how much the car your going to buy is worth. Also, get pre-approved by your bank or credit union before you go to the dealership BUT dont tell them you've been pre-approved if you do dont tell them how much. Never buy a car based on the monthly payment negotiate the price of the vehicle, that's just another ploy the dealership will try to screw you over with. Use an on line finance calculator and figure out how much you can afford monthly and multiply that by the number of months you want to get financed for and dont let the dealer try to get you to spend more than that figure. When you walk into a dealership take a good look around and see how many people they have working there and what it costs not only to run the dealership but to turn a profit. Neither the salesman, finance manager or general manger are you friend, their out to improve their quality of life at your expense, dont let that happen