trade in my Nissan versa?

Question

I recently bought a Nissan Versa. I am going to trade in this car 2-3 years from now ( my actual contract is $260/72 mo including GAP insurance ).
I am wondering if, knowing that I will trade in this car should I pay more that the monthly bill on the car?
Will that make a difference on the value of my trade in if I have pay a lot on the car already?
Bcz if it does not make a difference I might as well just stick with my regular payments and not put more money toward the principal.

Answer 1

I would suggest paying a little more each month. What will happen is that you will still owe when you trade it in and the balance will get tacked on to the new car. I'm having that problem right now. If you pay it down sooner you will owe less come trade in time and that will help your monthly payments tremendously.

Answer 2

Owning the car out right is best but most of us buy on time and pay interest don't forget to take that interest as a deduction "itemize" Now that said we all hope the car becomes popular and every one will want one. Most people at my dealership buy Versa are adults traiding in the old suburban when the kids move out. It was suposed to be a entry car for 12,000 to 17,000 dollars. I just hope you purchased your versa with all the options as the plane jane model won't be nearly worth as much at trade in time. Powerfull radio and subwoofer and handsfree phone are the hit options. AND please keep maintence receipts change oil every 4000 miles or more often.

Answer 3

well it wont change what you will get for trade but if you only make the payments that you set to and trade when the car i 3 years old or so you will probably owe more money than they give you for trade so they may add money on top of the cost of your next car when you trade it in. so in 3 years if you trade in they may offer you 6000 and you may owe 9000 so you next car will now need a loan for 20000 instead of the sticker price of 17000 (obviously not real figures)

I usually recommend leasing to ppl who are going to trade their cars in after only 2 or three years because you don't have to worry about depreciation of the car and whether the trade in value will cover what you owe.

Answer 4

The value of your car is decreased significally when you drive off the lot. Trading it in only benefits the dealer. I would recommend you selling the car yourself. Also know the blue book value for your car. This helps a great deal.