best way to trade in my 6 month old car?
I bought a toyota yaris automatic package about 6 months ago.. I am expecting a child in september so my husband and I are planning on trading my little super gas saver car to a bigger stronger car that might not be a gas saver : ( but hey.. child’s safety seems to be our priority.
Unfortunately we dont have alot of money to put out right now and was wondering is there is another secret way to trade in my car without a up side down situation…. is there one??
Unfortunately, there is no secret. If you can manage it, you will be much better off listing your car locally and trying to sell it privately. Unless you put down a hefty deposit, there is little chance that you won’t be "upside down" if you try to trade it. The dealer is always going to try to give you the minimum amount possible — especially on a newer car that you are trying to unload.
You will get significantly more for it by selling privately, if you can work out the logistics.
I had a 4 year old Honda that I was looking to trade at the dealer. I was able to sell it less than 2 weeks later for $2500 more than the dealer offered. Good luck with your transaction ………
Unfortunately, there is no secret. If you can manage it, you will be much better off listing your car locally and trying to sell it privately. Unless you put down a hefty deposit, there is little chance that you won’t be "upside down" if you try to trade it. The dealer is always going to try to give you the minimum amount possible — especially on a newer car that you are trying to unload.
You will get significantly more for it by selling privately, if you can work out the logistics.
I had a 4 year old Honda that I was looking to trade at the dealer. I was able to sell it less than 2 weeks later for $2500 more than the dealer offered. Good luck with your transaction ………
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Experience with several cars sold.
the only way you won’t be upside down is if you put a big enough down payment when you bought it. If you put down 15-20% you shouldn’t be too upside down. If you didn’t, you’re pretty much stuck. You can try and sell it privately, but you don’t have the title..so technically it’s not yours to sell, and most buyers don’t want to wait a few weeks for you to get it and sign it over to them after paying the loan. The best way is to find a car with a large rebate…that will eat up some of your negative equity on the car when you trade it in. Luckily Toyota’s hold their value pretty well..so you shouldn’t have too much of a problem.
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your going to take a hit on depreciation here is a good guide to use inorder to get the best deal http://www.adviceontime.com/weak%20credit%20auto%20loan/Weak%20Credit%20Auto%20Loan.htm
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