Is it possible to trade in a used car for another used car?
I bought a 2013 Toyota Yaris about 4 months ago. I bought mainly because it was cheap and fuel efficient. But I realized I don't really like. So I'm have buyers remorse. Is it possible to trade it in for another used car? I was thinking of getting a Honda Civic or a Volkswagen Jetta. How long should I wait to do the trade in?
Hi the issue is usually loss of money on a trade. Due to the buyer and what he is prepared to offer in exchange of this type.
Wait until you know exactly what you want to buy.
Yes of course. Only thing is they will pay you 70% the Price you paid for the yaris.
For example, if you paid 10,000 they will only give you 7,000. If you are ok with losing 3,000 dollars there shouldnt be a problem.
You can, but you are going to loose a lot of money. Dealers make a mark up on reselling cars, so like Frankie suggests, if you buy a car for $10,000 and take it back next week, they are only going to give you maybe $7,000 as a trade in.
So really it's best to hang on to it got a few years, and actually get some use out of that money. Sure if you take it back in a couple of years, they only offer you $5,000. But you have had 2 years of good used from it over that time, so it was money well spent.
Trading it now is just throwing money away.
Not practical, you'd lose thousands. They pay wholesale, charge you retail. $3000+ difference.
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