I agree. I think the transaction costs are not worth it.

Also, in general, you should never "trade in" cars. You should sell them privately. Dealerships totally rip you off on the trade in.

Hold on to the van and drive less? Thats what I did. The hydrid was just too expensive.

Hybrid cars have higher maintenance expenses after the warranty runs out. I would get a used civic.

SECU offers something like 2% at up to 6 years. I know its bad to stretch it out, blah blah blah, but we refi'd and lowered our car payment from 530 to 212...

Have you looked into refinancing the car loan?

Have you kept your minivan maintained? Do you plan on taking other children in your car besides your own? Do you use your van to carry large items or load it up to take trips? If so, do not give up your minivan. Also, if this Odyssey is several years old, they don't make them as well anymore (per Consumer Report). Cut elsewhere.

Do you need a minivan? I would probably just keep the car you have - anytime you start trading in a such, I think you lose money.

I have a Honda Odyssey that I LOVE but I do not love the car payment ($398) nor the gas mileage. I owe just under $16K on it right now. DH and I are working on cutting expenses because IMO we are spending too much on our monthly bills. I have been looking at possibly trading in the Odyssey for a used Prius (approx. $14K). This would lower the car payment to around $230 and we would save $100/month on gas, so an annual savings of approx. $3216. DH is nervous that if we get a used Prius, it will need a new battery, negating the savings. He also feels like we may regret getting rid of the van. I am not thrilled about getting rid of my leather (heated!) seats, sliding doors, etc but I am trying to see the big picture here of lowering our bills and getting our small amount of CC debt paid off. Thoughts?