Should I trade in my 2011 Mazda 3 for a 2014 Mazda 3?

Sounds like a good way to increase your debts for a slightly better car. Keep the 2011 car until you've paid it off in full then maybe you'll be able to afford a newer one with manageable debt.

You should have leased then.

So, here's how you break it down and you decide if it's worth it. When you trade in your 2011, trade in value is going to be less than $13,000. So let's just figure they give you $9,000 for your 2011. So you will be getting the 2014 at it's cost PLUS $4,000 to make up the difference you owe. (13,000 - 9,000)

That being said...if the 2014 is, let's say $22,000 (after taxes and fees), you'll be paying off a loan of $26,000.

But it all depends what you have and what you want to do. If you have $3,000 right now to pay the difference, then get the 2014 at it's cost. Or just lease, it's cheaper.

If you want the new one, go for it then. It's your money. If you plan on getting a car every few years, lease. That's what I did with my 2014 Mazda 6, I know I won't want it after 3 years because I like new cars.