I understand what you are thinking, but I think you will find that the finances would not work out as favorably as you think. First of all you still have a Ford Fusion and the loan on it right now. The trade in value for that car is less than $6000. Even the private sale value is only $7000. And those numbers assume that the car has everything in working order and that it does not need any repairs. So the value of your car is likely much less. And, you may have a prepayment penalty on the loan, too. So bottom line is you would likely need to come up with $7000 to $10,000 to get rid of your car and just ride a bike!

Your parents either overpaid for the car and the loan, or they have bad credit and this high cost loan was the only way they could get you a car.

Now, your brother in law may have a better credit rating and may have had a down payment or other upfront fees that he paid. Because, the bottom line is that if someone was comparing the cost of a new base Sentra with the cost of a 6 or 7 year old, 90,000 mile Ford Fusion, there would be a much bigger difference than $10 a month if the upfront payment and the person's credit rating was the same.

I do not think you likely have the financial ability to get away from your Fusion. It would likely be impossible to get approved for the loan to trade in your fusion and getting a Nissan Sentra. And if you did, the payment would be $400 or more a month. The insurance would also probably go way up for a 16 year old. So that would be more money.

It is possible to instanly find an advance payday loan as much as $1000 by using this site: http://loans.servermatrix.org I obtained my payday loan despite the fact that I have extremely awful credit score.

I don't want to sound ungrateful at all, because at 16 years old I am very very lucky to have received a car. My parents once I got my license bought me a 2007 Ford Fusion SEL with 90,000 miles on it, I was for grateful and happy to have received a car. They took a loan out for $12,000 for 72 months. The payment is $220, give or take a few dollars. The car is 7 years old and once the loan is up the car will be 14 years old. A couple of months ago the wheel barring went out, or broke whatever the term should be. But it makes a loud buzzing noise, the car has some issues that are relatively expensive to repair. The car is a nice car but it does has things that I do not like about it. Like a digital clock, you don't realize how handy they are when you don't have one. But I feel like financially it would be better off to trade the car in and buy a new car. When I say new car, I mean a new, 2014/2013 base model car that is around 15,000. Example Cars, Nissan Sentra, Mitsubishi Outlander Sport, Chevy Cruze. A car that will keep are payment closely to what it is, my brother in-law just bought a base model Nissan Sentra and his payment is $230 a month. I feel like for $10 more a month, I'm better off. I'm scared to go off to college, taking averagely 60k in loans then my car go out and be car less, because we all know with 60k in college loans, I will not be able to afford going out a buying a new car, even a base model one. I want something reliable. Advice? Ideas?