My husband has a 2003 HD Chevy Pickup truck that is loaded...we only have like 18 more payments at 0% interest and our payments on it our like $557.80. I have a 2005 Nissan Altima that we have had 2 1/2 years and still owe a considerable amount on it. My husband got a promotion and will have a company vehicle....and we have had two children in the last two years...and so the sedan is CRAMPED. I was really wanting to upgrade...is it feasible to trade in both vehicles for a small suv?? PLEASE HELP.
2007-06-27 05:56:37 · 16 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
You can trade in more than one vehicle when you are purchasing a new one or even a used one but what you will want to do is make sure that you do not have more value in the two than what the new one will cost. Go to www.kbb.com which is the Kelley Blue Book site to look up the value of your vehicles. You will be able to pick from three types of searches.....trade in value, retail value, and private party. Look up the trade in value of your vehicles to get a good idea of what they should offer you. This is the site that the car dealers use to get a figure. You may also want to look at the private party value to see what you should be able to sell it for if you sold it outright to someone.
If the trade in value will be under what the price of the new vehicle is, then it would be a good idea to do it this way since you will not have to advertise or deal with showing and test driving your vehicles to individuals. If the trade in on both your vehicles is more than the cost of the new vehicle, you can try to get them to give you cash back which they usually don't want to do or let them know that you know what they should be worth so you want a lot of extras thrown in on the new vehicle.
You also will want to go into a dealer and see what the bottom line price on the new SUV would be before you mention the trade-ins so that you know what they are actually willing to accept on that SUV. Then bring up the trade-ins and work your deal...just let them know that you looked them up on Kelley Blue Book and you know what they are worth so they know right off the bat that you are informed . Then if they do not want to deal with you go to another dealer, someone will want to! Good Luck!
2007-06-27 06:26:11 · answer #1 · answered by Cleo 2 · 1⤊ 0⤋
You totally can. Even if you owe more than what the vehicles are worth - they will pay them off and roll that into your new payment.
Go armed with info though. Go to edmunds.com and get a printout on what the 2 cars you are trading in are worth so you know if the dealership is giving you a fair deal. Also - shop around and see what different dealerships will offer you for your trade-ins.
The car market is very slow right now because of the economy - so you're at an advantage. If you're not in a rush - take your time and get the best deal.
Good luck!
ps - Since SUV's are so looked down upon right now (save the planet!) Lexus has a hybird that will help you save on gas costs.
2007-06-27 13:02:53 · answer #2 · answered by producergirl347 4 · 1⤊ 2⤋
Many places will allow you to trade in both vehicles, however you may want to try advertising on your own a little bit, you can make a considerable amount more if someone buys the vehicle directly from you
2007-06-27 13:00:53 · answer #3 · answered by blue_girl 5 · 1⤊ 0⤋
Some dealerships will take multiple vehicles in trade, and some won't. You'll have to ask the one you're planning to buy from. However, know that even if they do they will get their money's worth one way or another. Even the honest ones need to make a profit to pay the bills. Good luck!
2007-06-27 13:04:24 · answer #4 · answered by Jonathan R 4 · 1⤊ 0⤋
Yes. I was going to trade in my wagon and my sedan for a new wagon. The dealer will give you an (supposedly) independant trade in quote on each vehicle and then apply them both to your new car.
2007-06-27 13:00:43 · answer #5 · answered by Akkakk the befuddled 5 · 1⤊ 0⤋
Yes do believe so. Otherwise, there wouldn't be a "2nd vehicle trade-in" box on the agreement you sign with the dealers :)
2007-06-27 12:59:59 · answer #6 · answered by Sharon X 2 · 1⤊ 0⤋
Yes, but you would be better off selling one or both of the cars privately to avoid the possibility of being upside down and get better than wholesale price at the dealer.
2007-06-27 14:02:53 · answer #7 · answered by Ginger 6 · 0⤊ 1⤋
Yes, Mommy, People do it all the time.
It's a little more work ( & paperwork) for the salesperson & dealer but it is done frequently.
like I always say.." If it was easy....it wouldn't be called 'WORK' & everybody would be doing it" LOL!
2007-06-27 13:05:01 · answer #8 · answered by Vicky 7 · 2⤊ 0⤋
it is possible, with good credit and if the value of the truck can cover the negative equity on the altima.
2007-06-27 13:00:19 · answer #9 · answered by Anonymous · 1⤊ 0⤋
yes if your dealer is willing. Better to sell one privately. Youll get a better deal
2007-06-27 13:04:57 · answer #10 · answered by Barbarian 5 · 1⤊ 0⤋