trade in financed car


webtekie
06-12-2002, 10:44 AM
Hi,

I have a 2001 Honda Civic, I finance this car for 9 months now. The car is ok, but I want to get something bigger. Is there a way I can trade in my car (do not own) for something else, that costs about the same as my loan amount is?

thanks,
webtekie

LadyBuickGS
06-13-2002, 02:39 PM
Webtekie,

If you've only been in the civic for 9 mths, you may find yourself upside down (you owe more than it's worth) if you decide to trade it in. I think Honda's do have a higher resale value, than American cars, so you may
not be extrememly upside down.

Just be careful because they might roll the negative equity into the vehicle you want.

Go to sites like www.carpoint.com or www.edmunds.com and they will give you the trade-in value of your civic.

If you want to put in the effort, selling it yourself will help you save money and you won't have to bicker it out with the dealer.

I recently traded in a smaller vehicle for a better sized one, plus lower payments. I was upside down in my old vehicle, but due to lifestyle changes I needed a lower payment. So the car I bought was used and low priced, and with some money down I was able to get lower payments.

Good luck!

THE4TH
06-22-2002, 06:02 PM
yeah if your gonna trade it in .. be careful they will kill ya ...
but you would have to sell it on your own or trade it in to pay off the loan you have now.. and then get a new loan on the new car..

vv42
01-23-2008, 09:34 PM
yeah if your gonna trade it in .. be careful they will kill ya ...
but you would have to sell it on your own or trade it in to pay off the loan you have now.. and then get a new loan on the new car..

Another option is to consign your car. Many dealers will help facilitate this. Or, you could try an independent site like link removed by Moderator
Good Luck

'97ventureowner
01-23-2008, 11:38 PM
vv42 - It is obvious you are new to this site. PLEASE read the Community Guidelines in respect to posting in the forums. One rule is do not resurrect old threads beyond 90 days since the last post. This thread has been inactive for 5 1/2 years!
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