Originally Posted by 370zFTW

Hey guys, my name is Jim I am 20yrs old will be 21 next month and I currently have 2010 Nissan Maxima SV and will be trading in for a 370z soon. I'm still learning how the trading stuff goes and loans. I will explain what I am wanting to do and hopefully you guys can help me out. Anyways my dad co-signed the loan for me to get the Maxima and now I am wanting to trade it in for a 370z.

Here's the part I am still learning, I still owe about $27K on my loan and should I trade it for a newer Z that way I wont be losing too much money? Say I'm looking at a 2012 370z for $42K and if I do get $22K or little bit more for my Maxima for trade in from the Nissan dealership, will I be owing $20K(for the 2012 370z) plus $5K from the $27K I owe on my loans so then I'll be owning $25K for the 2012 Z? is that how it goes??? Anyone that can help I would be really appreciated. Thanks!