Sorry...to clarify...not as a ranch/farm work vehicle, but simply as a
going to church or daily driver for daughter, son, mom, grandma, etc.  
Heck, with more justification I'd buy an F150 just so I could park
closer to the entrance of a store.

But you're right, the OP really has to do the math and figure out if the
MPG increase of the new vehicle purchase will offset the loss from the
sale or continued ownership of the current truck.

When you get yourself into this mess, you will usually find the real sucker
in the mirror. I'm the son of a car dealer and a retired car dealer myself.
You have two choices in getting out of it. You trade down and take your
hickey and consider it a lesson well learned, and hopefully never forget it.
Or, you can trade your way down. What you do is place an ad offerring to
trade down just a year or maybe even to just a cheaper model. And you keep
doing that until you're even. It takes a little time, but it can be done.
There is always another sucker and if you make his trading up look
attractive he will usually take the bait. Of course you have to have the
co-operation of the lending agency or agencies.

I have always found that people come out way ahead by trading down and out.
Trade down for whatever old junker you can get that will get you completely
out of your vehicle. Drive the junker for awhile and save up the RECOMMENDED
20% down and start over. Just remember, 20% down and no more than 40 months
on the financing will usually keep you out of the "upside down" position. Of
course you've got to buy right too and that means no more than $300.00 over
invoice and DON'T TRADE IN YOUR CAR! The dealer usually makes a minimum of
$2500.00 on your trade(you can too!), $2000.00 on your financing, $500.00 on
Mop & Glow and undercoat, and 3% of the window sticker price if you buy
right at invoice.

If I was advising young people today on transportation I would advise them
to assume the attitude that they are going to be making car payments for the
rest of their lives. So, instead of getting screwed up in deals that you
don't know what you are doing, just go lease a car, KNOWING THE MILEAGE
LIMITATIONS AND THE WEAR AND TEAR LIMITATIONS AND THE INSURANCE
REQUIREMENTS. Then, you get a new car every year, 2 years, 3 years or
whatever you chose but the smart thing is to just lease for whatever the new
car warranty period is. That way, you've always got a new car under
warranty. BUT READ AND UNDERSTAND THE LEASE AGREEMENT BEFORE YOU ACT. IF YOU
HAVE QUESTIONS, ASK. And, here's a little trick. Dealers like to lease
because, in most states, they do not have to disclose the sales price the
lease is based on. But, they must disclose the sales tax. So, simply divide
the dollar amount of the sales tax by the tax rate and you'll get the sales
price they base the lease on and if it's more than $300.00 over invoice,
tell them to kiss off. For instance, in Texas $20,000.00 vehicle, sales tax
is .0625%. The dollar amount of the sales tax would be $1250.00. Divide
$1250.00 by .0625 and you get $20,000.00.

That's your car lesson for the day. Print it out and keep it.

A car dealer is entitled to make a profit and he must to stay in business,
but you are entitled to know as much about the deal as the dealer does.

Quite honestly it may be a good time in that if fuel prices go higher
(and they will the only question is when) they will be even harder to
sell and the value of it will be lower still. I look for the SUV
market to basically colapse in the next few years like the large car
market did in the early 80's. If you drive one of those things a few
thousand miles a month at today fuel prices you can easily be making a
combined 1000 buck fuel and SUV payment and that has some people
rethinking them.
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The SnoMan
www.thesnoman.com