I bought a 2001 Mercedez Benz ML320 5 months ago. How long do I have to wait until I can trade in. Actually can I trade it In for antoher car?
2007-01-08 07:27:11 · 13 answers · asked by ♥aMiGoSoZa♥ 3 in Cars & Transportation ➔ Car Makes ➔ Mercedes-Benz
You can trade it in the day after you buy it. But if you financed the vehicle you may owe more than it's worth. That's going to have to come from somewhere -- either a substantial down payment from you or it will have to be added to the loan on the new vehicle.
2007-01-09 06:56:00 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can trade it any time you want. However is it feasible to do so with out losing money? Cars lose value over time so depending on what you owe on it now is less than the value of the car you could trade with out losing. However if you owe more then the dealer will add in what you still owe into your new loan.
2007-01-08 07:52:48 · answer #2 · answered by uthockey32 6 · 0⤊ 0⤋
Of course you can. You might have to take a loss in the transactions, but yes, it is possible. I believe, in most States, a person can sell a car up to twice a year before needing a used car dealer license. I don't think this rule applies for trade-ins.
2007-01-08 07:38:12 · answer #3 · answered by tkquestion 7 · 0⤊ 0⤋
yes, you can, but if you owe more than it is actually worth, the dealership will roll the difference into the new loan. Ex. owe 20000 on a car that is worth 16000. They will add 4k to the price of the new car.
If you can find someone who is willing to trade you cars and take the payments, yes, you can do that as well.
2007-01-08 07:32:26 · answer #4 · answered by Ron Porkmore 4 · 1⤊ 0⤋
that would depend on how much you paid for it and what you owe on it, check out it' value on Kelly Blue Book or NADA web sites, in any event, you should be able to trade it, you may be "upside down" but that can always be rolled into the new car. What are you thinking of buying?
2007-01-09 01:12:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
sure you can trade it in. but why would you want to? you most likely owe more than its worth. not saying yuo do...buty you might. if y ou do they will tack whatever you owe on it onto the new loan. so wit hthat said, its up to the bank and your credit. if you can sell it for what you owe on it tehn just go buy a new car. if you dont owe more than its worth sell it for a lil over what you owe. then that way you have money for a down payment on a new car.
2007-01-08 07:46:22 · answer #6 · answered by Ryan T 3 · 0⤊ 0⤋
Yes you can but you will have to cover the "losses" - i mean, if you are selling it back to the dealer where you bough it, they will definitely not get it back for the same price. They will make another bunch of money for another deal with you,,,,
Best thing to do is to negotiate it.... (car salesmen are just always crooked to deal with, so be careful)
2007-01-09 14:03:14 · answer #7 · answered by signsden 3 · 0⤊ 0⤋
Why did you buy an ML320? You can but you will have depreciation on it. Did you pay cash or on payments?
2007-01-09 11:04:31 · answer #8 · answered by ? 7 · 0⤊ 0⤋
Its ur car and ur money you can trade/sell as often as u want as long as you arent doing it as a buisness then u dont need a reason.
2007-01-09 01:41:36 · answer #9 · answered by mbz300sdl2006 2 · 0⤊ 0⤋
you could trade it i got a chevy venture and didnt like it so i traded it for a honda odyssey in 1 week of owning the venture.I payed off the venture with the money they gave me for it!!
2007-01-10 10:27:04 · answer #10 · answered by hockey dude 1 · 0⤊ 0⤋