Can you trade in a new car for something else if you've only made a few pymts?

Question

Our monthly payments are way too high and i need to know if it's possible to trade it in for something more "economical" and that costs less monthly.

Answer 1

you will have to trade down to a lot smaller vehicle and then you will still take a bath on the deal, talk it over with the salesman and see if you can get into a lease but you will still probably be upside down on trading in your vehicle and be in an ugly situation, your better off trying to sell your vehicle yourself for what you owe on it.

Answer 2

Sure can, but it's going to cost you because the moment you drove it off the new car lot, it became a used car. That depreciates the value. The trade-in value of your new car may make the economical car cost more than you think, because you have to roll over the amount you lost on the new car onto the cost of the economical car. It may not be so economical anymore to do that!! Good Luck!!