i have a 2007 toyota corolla ce and im wondering if i should sell it or just trade it in for a cheaper car (you know for car note payments).... im not that big on cars so i need advice..
2007-08-02 06:52:27 · 8 answers · asked by petitememe 2 in Cars & Transportation ➔ Car Makes ➔ Toyota
Before trading in or replacing. Think a little longer. You have lost a lot on the car just by buying it. If you trade, you will still have to cover any short fall in what you get for it and what you owe on it. Then there is also the cost of tax just to buy a different car, which may not have a warranty, and may have maintenance problems.
While it may seem to be a solution to your problems- trading may cause you more.
In most cases, such transactions will only put you deeper in debt, not help you out of it.
2007-08-02 07:04:44 · answer #1 · answered by teamepler@verizon.net 5 · 0⤊ 0⤋
In your situation you're better off selling it yourself if you can. You have 2 major problems with this car as a trade-in. First, it's a model that dealers in your area still have in stock and want to get rid of not take in. Second, if there's a rebate like here of $1,000 on an 07 you automatically deduct that from it's trade-in value. The other problem is if you didn't put money down you're out tax and license. If you didn't put money down or carried on some negative equity your only solution is to trade it in and hope you get a lower payment. Either way I don't think you're going to accomplish much unless you're in this car right. I'm not sure what you're payments are since the CE is basically the Cheap Edition as they don't have many options but there aren't too many cars that cost less and get the mileage. Good luck
2007-08-02 21:22:47 · answer #2 · answered by Joker69 3 · 0⤊ 0⤋
Check out www.kbb.com to determine the trade-in, private, and dealer prices for your car.
You're going to have a hard time with that new a car. Dealers are not going to give you what you owe, and private parties are not going to pay that much for a used car when they can get a new car.
The one advantage of trading in a vehicle is avoiding paying the extra sales tax. The trade-in value is generally deducted from the selling price of the new vehicle before they calculate the sales tax due.
One thing you do NOT want to do is tell the new car salesperson that you're planning on trading in a vehicle. Negotiate your best price, THEN tell them you have a trade-in vehicle.
I recommend determining what make/model car you want to purchase, the go to the manufacturer's web page and request internet quotes from every dealer in a circle around you. Specify the exact same car model and options at every dealer. Collect the internet quotes, and select the best one. In some cases you may wish to consider visiting the most convenient dealer and telling them they need to meet the best deal or you are going to that other dealer. After they agree to the price, THEN tell them about your trade-in.
Good Luck!
2007-08-02 21:39:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Since you have Corolla CE yo should try to trade it in(you might be surprised how much a dealer can offer you for that car!). Because CE does not come with power package you will have a hell of a time trying to sell almost brand new car with no power windows. If you do choose to sell it yourself try using http://www.selllikeadealer.com/ it will give you a step by step directions on how to sell your car. Good luck!
2007-08-03 01:57:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I am sorry that there can be no exact answer to this question, because it really depends on all of the details of the prospective deal that you make. I have had it go both ways before. I have sold a car and got the best benefit that way, and I have traded in a car, receiving good benefit too. I can say that in the world of car trading, it is as always buyer beware. Make certain that you compare everything, and make certain that you get what you want. Remember though, for a deal to be a good deal both parties must win.
2007-08-02 14:07:13 · answer #5 · answered by Ron S 2 · 0⤊ 0⤋
If you want the best deal, you always, always sell a used car privately and buy from a dealer. If a dealer offers you 2000 for a car, you should get at 3000 privately. However, always buy your car from the dealer as if anything goes wrong with a privately sold car, there is no protection. With a dealer, you can take the car back and insist it is either repaired or get your money refunded. You can't do this with a private sale.
2007-08-02 14:02:24 · answer #6 · answered by kendavi 5 · 0⤊ 0⤋
If you trade it you will only get half what it is worth. If you look up the Kelly Blue Book it will list the difference.
2007-08-02 13:58:17 · answer #7 · answered by Anonymous · 1⤊ 0⤋
sell it will take longer but you get more money
2007-08-02 14:23:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋