My Husband and I just bought a car about 5 months ago and though we like the car, we've realized it might be too small for our needs. (We're expecting a second child and 2 car seats will be really snug). I just wondered (this was our first purchase of a car) how long of a time period should we wait before we consider trading it in for a vehicle that is more to our size needs?
Thanks in advance!
2007-01-01 13:35:11 · 10 answers · asked by Serendipity#2 2 in Cars & Transportation ➔ Buying & Selling
Sorry, I didn't mention the car. . it's a used 2006 Chevy Cobalt LS
2007-01-01 13:48:05 · update #1
To the ignorant Cowboy. . my children will both be in car seats. . we do need a larger car because you see, both car seats will be uncomfortably close to the doors as they BOTH can't be seated in the middle and when one is in the middle the other doesn't fit in at all! Two adults can fit in the rear of our car, that is true. . but do you have children? have you ever used a car seat? Probably not. I don't want an SUV believe it or not, I want a safe vehicle for my children so that when morons like you are driving home from the bar drunk and we are hit, my children won't pay the price for your ignorance.
2007-01-02 04:00:13 · update #2
you didn't say if the car you bought was used or new
a new car depreciates $1-2,000 when you drive it off the lot.
you may need to keep it 2-3 years to be able to get your money out of it. best of luck
Happy New Year!
2007-01-01 13:39:01 · answer #1 · answered by tom4bucs 7 · 1⤊ 0⤋
Cars depreciate the most in their first year. I know the only way to get ahead with a car is to shop around well. Which means check out Consumer Reports at your local library to see which are rated best for your money. This will tell you prices, safety, maintenance issues, basic dependability, as well as problems some models may be having, etc. When you find a car that fits your needs, keep it maintained regularly, make it last (10) years. Then you can say you got your moneys worth.
Right now I would say check out and see the kind of car you should have purchased. Which means go to the library and start reading. When you feel secure in your choice, check out what dealers will give you for a trade-in on your present car. Also see if you can sell it out right, you can usually get more for your vehicle this way. The longer you wait the more the vehicle will depreciate. Good luck! If you think ten years seems like a long time, it is not. It can go by faster then you think. Had my last new car 11 years and when I sold it, it still ran good. A lot of money is wasted trading in good dependable vehicles just because someone puts their wants ahead of needs.
2007-01-01 13:55:48 · answer #2 · answered by JAN 7 · 1⤊ 0⤋
Just how large are your children? You don't need a larger car, you just WANT one and are using this as an excuse to buy something different. Drive the Cobalt for the next five years -- believe it or not two ADULTS can easily squeeze into the rear seat and I'm confident your children will make the adjustment.
Now go buy that SUV you want. (this is what you really wanted to hear, right?)
2007-01-01 17:31:04 · answer #3 · answered by Anonymous · 1⤊ 1⤋
You may be upside-down on your loan, meaning that you owe more than it's worth. Compare the wholesale value at http://www.kbb.com to what you owe. It's entirely possible that you will have to keep the car for 2 - 3 years before the value is greater than the loan balance. Cobalts don't hold their value very well.
If you trade before the value exceeds the loan balance, the excess will be applied to the note on the new vehicle. This will increase your payments and most likely leave you even that much more upside-down than you currently are.
2007-01-01 23:18:07 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can trade it or sell it easily if it is worth more than you owe. Depending on your credit worhthiness you may get what is called an overallowance on your next loan if your trade-in has negative equity.
If you would like to know more email me at carconcierge@juno.com
I can go into better detail with you there.
2007-01-01 13:39:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I think as soon as possible, simply because the longer you leave it the less money you will get when you trade it in.
Also you may find that you would get significantly more money if you sell the vehicle privately simply because traders only either resell your vehicle and they still need to make a profit or they scrap it which again costs them money, the more they give you.
2007-01-01 13:46:32 · answer #6 · answered by Anonymous · 0⤊ 1⤋
You may want to keep the car as the market is open for children in Asia & Central Europe for children.
2007-01-01 13:38:48 · answer #7 · answered by Anonymous · 0⤊ 2⤋
well I would purchase one before the new Bay comes ,Like a month Before you are ready to deliver,Do your Home work,get on line and check all the car dealer around you,shop around and find a good deal.
2007-01-01 13:39:38 · answer #8 · answered by Dew 7 · 0⤊ 1⤋
Was the car new or used? If used, you don't have to wait at all.
2007-01-01 13:37:21 · answer #9 · answered by Anonymous · 1⤊ 0⤋
if its used then you can trade it in now
2007-01-01 14:06:11 · answer #10 · answered by Anonymous · 0⤊ 0⤋