How can trade I in a new car I bought 3 months ago?

Twila

forget about doing anything w/that vehicle except to pay off the loan

Anonymous

Predatory dealers will gladly take it as a trade. If your credit is good enough, they will work it out so the NEW DEBT will include the Pay-Off of the "old". Your payments will likely Double what they are currently. So, I suggest you swallow your dislike, and continue driving it for the next 5 years, or until you finish the next to last payment. Then Trade. Best is to be Saving up to buy your next vehicle Paid In Full.

nt

You probably CAN'T trade and thank your lucky stars. Maybe in 2-3 years. But even then it would be foolish. Time to put on your "big boy" pants.

Anonymous

Suck it up. Pay off the loan.

Roo

Try to pay it down, and then sell it privately. You will always get more money selling privately than trading it in at a dealer. Sometimes the difference can be thousands of dollars. It's a bit more effort, but well worth it. Use pricing guides on Kelley Blue Book (kbb.com) to get an idea of what you car is worth. It'll give you both the trade-in and private party values. From there, you can decide, based on what you owe, how much leverage you have

PotBrownies

You can't sell something you don't own

Anonymous

It is called "by losing money on it" as now it is SECOND HAND vehicle. Buddy of mine bought a Second hand car and drove it for a Week and figured out he did not like the high speed the engine would run at when he was doing 70MPH. So took it back to the same dealer. They bought it back at $1500.00 loss...for him. They sold the car to someone else for the same price they had originally. That is the car lots right to ask any price they want. Car lots never lose.

STEPHEN

News for you. It isn't a new car. It's a used car.

Grandpa Jack

Actually trading it in is easy. Just go to any dealership and tell them you want to trade it in on a new/different car if you absolutely have to trade it in. The hard part is trading it in and not taking a huge hit on the trade-in value. The car is going to be worth $3000-$5000 (+?) less in-trade than you just paid for it 3 months ago (not to mention you'll also eat the tax/title/license costs you just paid too). Whether or not you put money down on the purchase of that car is irrelevant here - you're going to have to eat that $3000-$5000+ loss in value either way if you trade it in so soon after purchasing it new. If I were you, I'd probably keep the car for 2-3 years if you can stand it, get some value out of what you spent on it, and trade it at that point once the depreciation curve has flattened out a little bit. Good luck.

A Hunch

Unless you have paid a significant downpayment or have money to bring to the table, you can't. You will need to pay about 40% of the purchase price to be able to trade it in.

Erik

You can absolutely trade it in. Several people at my job have done this. Just be prepared to take a huge loss in value.

Percyqted

Find the 20g to pay off your loan then you are free to trade it in against another vehicle. While you're thinking about it try to rearrange these words to make a well know phrase or saying: Parted Fool Money His is and A Soon

william ellis

Trade away it just money and maybe get a lower bill payment...