Does anyone know if this is even legal? Would a dealership even consider it? Two used cars for one new one?
2007-03-28 07:50:15 · 14 answers · asked by hockeyjon04 1 in Cars & Transportation ➔ Buying & Selling
Real good answers folks. Keep em coming please.
2007-03-28 07:57:12 · update #1
As long as you negotiate the value of both trade-ins to be the same value as the car you are purchasing (plus taxes, tags and title)- the dealer can make that transaction. Rather than worry about financing, you simply hand over the titles to both trade-ins in exchange for the car you just purchased.
Keep in mind that some states require a dealer license if you own more than 5 cars.
2007-03-28 08:07:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-12-24 22:43:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Sure! Dealers are in it for the money and will accept almost anytihing in trade. I traded two cars in a number of years ago. The dealer didn't even bat an eye at the request. Whether or not you will need to put money down will depend more upon your credit than anything else. The two vehicles combined have a value of $21.5k. With the payoff of $19k, you're right side up by $2.5k. If your credit is decent that should cover any down payment requirement and then some.
2016-03-16 03:45:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have spent many years selling cars. Nearly any dealer will take multiple trades against a single car. Make sure that you ask to see the Actual cash value of each trade, not just a total trade allowance.
2007-03-28 09:12:51 · answer #4 · answered by Bill in Kansas 6 · 0⤊ 0⤋
It is perfectly legal, and is done regularly. Like the poster above me stated, make sure you see actual cash values of the trades. Actual Cash Value, or ACV, is the true price they are giving you for your trades. Example:
Example one is an allowance based transaction:
Price: 20,000
Allowance: 10,000
-===============
Difference: 10,000
Example two is a ACV type transaction
Price: 20,000
Discount: -2,000
Sale Price: 18.000
ACV of trade 1. 2,000
ACV of trade 2. 6,000
===========
Difference: 10,000
In the end, you will still have the same difference, but it will allow you to negotiate on what they are actually giving you for the two trade ins. Ask to see this type of pricing. IF you ask for ACV, they will think automatically that you know what you are talking about. Good luck, hope you come out ahead.
2007-03-28 15:18:48 · answer #5 · answered by t.carp 2 · 0⤊ 0⤋
It is up to the dealer... most places probably would unless they are just complete junkers... that gives them 2 cars to resale or take to auction. Your best bet is to call around and ask...
Remember too, they are only going to give you the trade in value based on condition for the 2 used cars, which may not equal the value of the new car, in that case, they will simply put the value of the other 2 cars against the loan on the new one.... probably as a down payment!
2007-03-28 07:56:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
This Site Might Help You.
RE:
Can you trade in two cars for one?
Does anyone know if this is even legal? Would a dealership even consider it? Two used cars for one new one?
2015-08-16 16:18:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋
They will do it, and yes it is legal. But the question should be, why would you want to do that? You will not receive fair market value, and the numbers will just be juggled on the contract, you will not come out ahead. You are much better off, selling the cars privately, then approaching a dealer with a cash down.
2007-03-28 08:35:06 · answer #8 · answered by fisherwoman 6 · 2⤊ 0⤋
Dealership is in business to make a profit. If the two cars are worth enough to make a big enough profit to do it, odds are they would.
2007-03-28 07:53:44 · answer #9 · answered by wizjp 7 · 0⤊ 0⤋
I have done that. I got less than book value for the second though which did not matter since I got it free. Ask and find out.
2007-03-28 07:54:36 · answer #10 · answered by j h 2 · 0⤊ 0⤋