Curious
dadda11o, The current vehicle books for approxiamately the same as the replacement vehicle. The owner of the replacement vehicle inherited the car and has zero invested in it. It needs some brake work but other than that it is comparable to the existing car, 98 Lexus SC 400 w/105K miles to a 2000 Solero w/50K miles. Trading cars would result in positive cash that would pay off ~4K in credit card debt.
Paying off the credit card debt would give the household a $300 per month positive cash flow. Money is not all of our issue but it is one of them. My wife is a stay at home mother, that is what we agreed to before we married 2 1/2 years ago. This gives my wife the opportunity to be at home before and after school and volunteer at school once a week for her 8 yr. old son (wonderful boy!).
Selling the car outright is doable, the issue with that is finding a suitable replacement quickly. Low mileage, one owner cars are not that easy to find quickly. This deal is a win/win from my perspective. The replacement car will get better gas mileage (V6 vs V8), have lower maintenance costs and still provide a very nice form of safe, reliable (not to mention good looking/sporty) transportation. No it is not a Lexus SC but it is definietly more practical.
Thank you for your comments, good luck with your situation.