I recently bought a brand new 2007 car (1 month old) , I am kind unhappy with the way it preforms/looks....Is it possible to trade it into another dealership and get a different car??
2007-07-07 11:23:27 · 11 answers · asked by ryanz5760 1 in Cars & Transportation ➔ Buying & Selling
sure, if your prepared for your "new" car to lose 4-5k in value.
2007-07-07 11:42:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
because of the fact you only have had the vehicle for 5 months, it would be a very difficult situation to get out of your finance unless you have a lot of money to put down. I'll explain why: a new car takes its biggest depreciation hit as soon as it gets titled and becomes used. meaning it loses the most value per year in the first year. take 430x 72 months thats $30,960. now not all that is the car, thats interest as well. the first few payments you have made went primarily to interest charge, so you really havent paid anything off the cash pricipal yet. even if you got into a cheaper car the payments would actually go up unless you put a substantial amount of money down on the car you have now and the total finance was on a touareg or some more expensive VW heres a senerio for you since Idont know what kind of VW it is. if your car msrp'ed for 30,000, the first year depreciation on vw's is about 25% - 30 % that means you car is now worth $21,000 to $22,500 if you owe say $25,000 to payoff your loan you are basically anywhere from $2,500.00 to $4,000.00 upside down, meaning that difference would be tacked onto the new car. with $0.00 down taking the worst case (unless your payoff is more) if you got a 17,000 car + tax and MV that means you would be financing $21,000.00 + tax and dmv which under another 72 month loan and standard rates would be around $400.00 x 6 years however heres the trick! would a bank actually finance 21000 + tax + dmv on a car that is worth 17,000. Most banks on new cars are only willing to finance 120% of invoice cost (with good credit) which if the invoice is $16,000.00 that means the bank would be willing to finance $19,200.00. you would have to come up with the difference of $1800.00 + tax and DMV If you want you can actually email me what type of VW you have (including options) your exact payoff, what payment you are looking for, what your interest rate was on the vw and I can tell you pretty close what price of a vehicle you need to be at to get to that payment you want and if it is even feesable.
2016-05-21 00:06:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes you can, but expect to lose a lot in deprecation. You bought a new car, and now you want to trade in a used one. Your best bet would be to see what the original dealer might do. Of course, they'll want you to spend more money to upgrade.
You really need to research and test-drive before making your next decision. Otherwise, this will keep happening. Buy the car that is right for YOU and not just the ones friends recommend.
2007-07-07 11:33:02 · answer #3 · answered by George Y 7 · 0⤊ 0⤋
your car lost 20% of its value when you drove it off the lot. If the car has maintenance issues , then you could work with the original dealership on allowing you to swap it in for another model, however if you are just unhappy with the car you will probably take a beating on the trade in value.
2007-07-07 11:41:30 · answer #4 · answered by Anonymous · 2⤊ 0⤋
If you can work with the dealer you got it from , some come with a 30 day guarantee , all you pay is a fee for mileage that you used it , if you go to a different dealer I'm guessing you will lose a good $2500 or better in depreciation . GOOD LUCK test drive the new one , take it for a long ride and look really close at it
2007-07-07 11:43:12 · answer #5 · answered by jon_wayne89 5 · 0⤊ 0⤋
Yes but the moment you drove it off the lot you lost about 25% of it's worth, if you financed 100% you are badly our of equity on the car. If you have the money to make up the difference than go ahead. Go to kbb.com and put in the information it will tell you what your trade in is worth, compare that to what you owe and make a decision from there.
2007-07-07 11:33:17 · answer #6 · answered by Pengy 7 · 2⤊ 0⤋
It's not a brand new vehicle anymore. A car dealership is not like walmart, where you can just return and exchange something that doesn't fit. You have a loan for your current vehicle that must be satisfied. Can you do it? Yes, but it is going to cost you some money to do it.
2007-07-07 11:50:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋
If you take it to the original dealer they may buy it from you if you intend to buy from them....my friend bought an 06 altima and 1 year later with 10,000 miles on it the original dealer paid it off and they got an 07...
2007-07-07 11:37:44 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Anything is possible, all it takes is money.
2007-07-07 11:30:38 · answer #9 · answered by X3 2 · 1⤊ 1⤋
i don't think it is free so you need money
2007-07-07 11:31:58 · answer #10 · answered by Taylor 1 · 1⤊ 1⤋