Gosh, Im going through the same thing. I have an 05' Grand Am w/ 70,000 miles on it. I owe $12K the Max I can get is $7,600. That's why I don't wanna trade it in, I have someone who is willing to assume the loan. It's just a matter of getting what I want. I might just wait another year...who knows.But if I were you I would NOT trade the Blazer. Now that would be a HUGE mistake. You'd be paying on both vehicles FOREVER!! I did have a sales guy tell me something about "Profit and Loss". It's something like an account showing net profit and loss over a given period. So right now if I gave my car back to the finance company, they can't ask for the remainder balance. Because I have technically paid for the car. EX: My auto loan was originally for $16,600, over the past 30 months I have paid the finance company $11,370. If they sold my car right now they would get anywhere from $5,000-$7,600. Bringing in a total of $16,370-$18,970. Meaning they have been paid for the loan. And it shows up on your credit as "Profit and Loss". It does however take like 10pts. off your credit score. Not sure how true the info is, but that's what I was told.