Sorry to bug ya'll with this question, but I just have to ask someone, and what better place than with a whole buncha someones!

Now to the question.

Right now I have a 02' Land Rover that I've had for 6 months and would like to trade in for something cheaper with a cheaper monthly payment.  Do I have to do this through the dealership I bought it at?  Will they even allow this?  I am financing it through a credit union that the dealership set me up with to get the low interest reate so that's where I thought the hang-up might be.  Any advice would be VERY greatly appreciated.
Any comments on how I should of listened to myself instead of my wife about getting this vehicle, well that's fine too.

Thanks!

Buellar?...Buellar?

You're upside down dude!

That thing's too new for you to have paid enough of the loan off to have any 'equity', and is a heavy depreciator anyway.  Thus, I don't know how you can expect to lower your payments, as no matter what happens, you still 'owe' the amount on the original loan.  Unless you can get more in trade than you owe currently, you are still in debt on the RR.  If it gets rolled into the price of a new car, it kind of defeats the purpose of why you wanted a cheaper car in the first place.

Basically, you're screwed, and have to pay up.

You can make a deal with any dealer you wish.  The dealer will make an assessment of the trade-in value of your vehicle and make an offer on it.  Then they will pay off your loan balance based on the trade and you get any money left over.  If the trade-in is less than the balance of the loan, then you will be required to either pay the difference or roll the money into the loan for your new vehicle.  Chances are that you will fall into this situation, as you have had the vehicle 6 months and probably don't have much money into it yet.  this is also due to the fact that the used car market is heavily saturated because auto financing is so cheap right now.  Before you go down that road, you might wnat to check your balance due and compare it to the trade-in values.

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