can i trade in a car i just bought with 5k mileage on it?

Question

i spent over 30k on this new car, i regret for spending so much now.. can i trade in for something cheaper? i already down 10k for that purchase.. i checked kbb for my car's trade in value's around 29k... i dunno if it's a good idea to trade in.. any advise?

Answer 1

never buy on impulse, your loss will be too great might as well get 12000 miles outta it then trade, ive been around, your loss then will be awarded to yourself, once you drive off that lot you lose, and my estimate is about $4500.00 off sticker so itll only be worth 25k on a resale, so get 1yr of new enjoy and then trade/sell

Answer 2

Its never a good idea to trade in if you can sell it privately after all a dealer has to make a good profit on your car when he resells it and the one you intend to buy from the dealer is already marked up so they make a profit look in the local paper or car trading magazine for what you want to buy see what they go for then check out your cars price . when you have the prices go to a dealer and without telling him what you already know see what he can do . I'm pretty sure you will be insulted at the changeover price he will tell you .

Answer 3

Better to sell it privately and quick. The immediate depreciation for driving it off the dealers lot can be 7 to 10 grand. Cut your losses with a private sale, and fast!

Answer 4

If you have financed it, you will not be able to sell it for enough to pay off the loan. This from personal experience.

Answer 5

it depends on what you have and what you want. and remember a car is (sometimes) an extention of ones self so do what feels right. even if its an american car you want! LOL. as long as its not a hybrid.

Answer 6

private sale