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trading in financing car

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Old Sep 28, 2010 | 07:08 AM
  #1  
johentie's Avatar
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From: Markham
trading in financing car

my wife picked up a Mitsubishi Ralliart 09 about a year ago... and i got rid of my lease for my Si and picked up a 2000 SiR.

The SiR was only suppose to get me from House to Go train station and minor driving..

but got a new job out sauga so i gotta commute from Markham to sauga...and my SiR won't make it over a long period of time.. it's at almost 300k

anyway.. so my question is!!

is it possible to trade in my Wife's Ralliart for a car? will the dealership even think about buying the car from us? it's a financed car that's less then a year old so it has a lot of $$$ on the loan..

anyone have experience trading in a new financed car?
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Old Sep 28, 2010 | 07:16 AM
  #2  
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From: Eastern NC
If you decide to trade in the RA now, you are going to end up considerably upside-down on your next car. You would be better off trying to sell the Honda, and using that money on a down payment for a newer used car.
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Old Sep 28, 2010 | 07:18 AM
  #3  
GPTourer's Avatar
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From: Birmingham, AL
Originally Posted by jkennedy293
If you decide to trade in the RA now, you are going to end up considerably upside-down on your next car. You would be better off trying to sell the Honda, and using that money on a down payment for a newer used car.
Agreed.
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Old Sep 28, 2010 | 07:22 AM
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johentie's Avatar
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From: Markham
that's what i thought...

my other options was to finance bust the RA.. i odn;t think i'd have a proble moving it..

Bi weekly payments of $279CDN = $558/mnth roughly (minus the few months u pay 3 times)

Wicked white
female driven
full paint coverage
rust protection
Upgrade premium package (navi etc)
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Old Sep 29, 2010 | 07:14 AM
  #5  
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From: Minnesota
Originally Posted by johentie
that's what i thought...

my other options was to finance bust the RA.. i odn;t think i'd have a proble moving it..

Bi weekly payments of $279CDN = $558/mnth roughly (minus the few months u pay 3 times)

Wicked white
female driven
full paint coverage
rust protection
Upgrade premium package (navi etc)
Extras don't really matter at this point.. Unless you put a considerable amount down on the car, you'll still be upside down on it..
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Old Sep 29, 2010 | 12:23 PM
  #6  
kamijitsu's Avatar
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From: Vancouver, BC
Originally Posted by jkennedy293
If you decide to trade in the RA now, you are going to end up considerably upside-down on your next car. You would be better off trying to sell the Honda, and using that money on a down payment for a newer used car.

Exactly what he said! I did that with my other car to get the RA, and now it's biting me in the ****.. Lost so much $$ on the trade in of the other car..
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Old Sep 29, 2010 | 04:09 PM
  #7  
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From: Bolton, ON
I too will have to agree. You will be seriously pooched if you try and flip over a financed car. If you love the SiR keep it. If not sell it. You can still get a good couple pennies for it if you sell it privately. Any manufacturer will nail you to the wall if you break financing in any way.

Oh P.S. maybe don't advertise it's lady driven. The love of the vehicle just isn't there.

-Ralliheart
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Old Sep 29, 2010 | 07:38 PM
  #8  
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From: Vancouver, BC
Originally Posted by Ralliheart
I too will have to agree. You will be seriously pooched if you try and flip over a financed car. If you love the SiR keep it. If not sell it. You can still get a good couple pennies for it if you sell it privately. Any manufacturer will nail you to the wall if you break financing in any way.

Oh P.S. maybe don't advertise it's lady driven. The love of the vehicle just isn't there.

-Ralliheart

okay, i just had to add on the last part of your msg..

whenever i see car adds that say "lady driven" i instally think two things:

1. Car was "babied" and not raced cause, well hhmm women just dont do that kind of stuff, they drive slow remember!

2. Car has been in numerous dings, nicks, scratch ups, been in accident cause, well.. we've all seen the "horror story/pictures" of some lady driven vehicle car accidents...

does that sound sexist? cause seriously, no disrespect to women or the original poster, as i ladies lovin all the time

regardless, i hope you make the decision that makes you happiest, even if that means taking a financial hit sometimes (just be prepared to get the constant naggin from the wifey, i know, i've been there hahaha)
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Old Sep 30, 2010 | 12:35 PM
  #9  
Veronica's Avatar
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From: Chesapeake Beach, MD
Lady at my gas station:'the oil light is on'.

Me: 'When did it come on?'

Lady: 'Oh, about two months ago.'

Me: [rolls eyes]

I swore from that day forward to never buy from a female unless i was sure she took care of the car...
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