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You can trade it in the day after you buy it, but any vehicle depreciates at least $2000 after you take possession (drive it off the lot). As far as when you should trade a new car in, that depends on how much you owe on it and your wishes. Most 60-month payment schedules will get positive equity- that is, the vehicle will be worth more than you owe- after 36 months. If you have delayed payments (like no payments for 90 days or something), it'll take that much longer to build positive equity. Note that your interest rate will also have an impact on equity: a higher interest rate will take you longer to build positive equity. How good a deal you got will also affect this, and it always helps if the vehicle is in good shape when trade-in time comes. But technically you could drive a car one day and trade it in- if you were willing to take a serious hit to the pocketbook!
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∙ 10y ago
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Do you have to buy a new car to trade in a used car?
No, you can trade a used car for another used car
How soon can you trade in a new truck after you buy it?
if you buy a new truck you should sell it after 6 months
Where do I find a place that I can trade in my old car and buy a new one?
Go to Toyota. They will trade in your junk car and trade it in for a new one of your choice. There are hundreds of new and awesome cars to choose from.
When people buy a new car they something they do with old one?
Trade it in on the new car, sell it, keep it, or donate it to charity.
When people buy a new car name something they do with their old car?
trade it in, sell it, or give it away.
When people buy a new car what do they do with the old one?
They trade it in, keep it or sale it them selves.
What will people do with the old car if they want to buy a new car?
They can sell it on their own, or they can trade it into the dealer toward a down payment.
Can you trade in multiple cars for a new car?
Yes, but be aware you will get at the most wholesale for each vehicle. Must better off to sell the cars and buy the car outright with no trade.
If you trade a car in for a new car and the new car gets totaled can you get the money back?
Certainly. If you buy a new car from a dealer and then wreck it, the dealer will be happy to give you back your old car and promptly return all of your money, and take back the ruined new car.
How long to you have to wait to trade in a new vehicle?
You can literally buy a 2008 or 2009 car, drive it off the lot, and drive into another dealer to trade it in. You will lose a lot of the car's value however. .
When people buy a new car name 4 things they do with their old one?
sell, trade, donate, scrap it
I want to trade my car but i still owe 12474.00 can i just buy a new car?
Yes you can trade your car in, but they are only going to give you what the blue book value is. Then the remainder of what you still owe, they will put it towards the new vehicle you get. I know this because I done it.
