•   
  •   
  •   

buyingWhat Happens to Your Car When You Trade It In

18:40  12 april  2019
18:40  12 april  2019 Source:   rd.com

Trump tariffs force tough choices at U.S. auto suppliers

Trump tariffs force tough choices at U.S. auto suppliers 'These tariffs have cost me business.'

When you trade in your old car for a brand new model, one of three things can happen . Unless you ’re trading in a car that is in nearly perfect condition, with low enough mileage, and a close to recent manufacturing date—in which case, why are you trading it in again?—this is not the road that car is

When you trade in a car with a loan, the dealer takes over the loan and pays it off. The dealer is also supposed to handle the paperwork, such as the transfer of the title, which establishes legal Compare your payoff amount to your car ’s trade -in value to see if you have positive or negative equity.

What Happens to Your Car When You Trade It In© Provided by Trusted Media Brands, Inc. business man gives the car key

By the time you invest in your second or third car, chances are you’ve been around the block enough to know that when it comes time to buy a new vehicle, one of your budget-friendly options is to trade in your old one. But what actually happens to your well-loved minivan that you can’t quite get the smell of french fries out of?

According to Gregg Fidan, founder of RealCarTips.com, traded in cars generally go one of three places.

Recondition and resale

Unless you’re trading in a car that is in nearly perfect condition, with low enough mileage, and a close to recent manufacturing date—in which case, why are you trading it in again?—this is not the road that car is going down. A car that is being traded in after a few small dings, or after the owner gets sick of it and wants something a few years newer, is easy enough for the dealership to fix up, put in some of that new car smell, and resell it to someone looking for a nice car at a slight discount. If you’re looking to buy one of these reconditioned cars, take note of the 12 best used cars to buy according to the experts.

Man Trades In Entire Collection of First-Gen Toyota MR2s For a New Miata

Man Trades In Entire Collection of First-Gen Toyota MR2s For a New Miata That's one way to go about liquidating a stash of classics. As far as weird trade-in stories go, this has got to be one of the strangest. Earlier this week, Coad Toyota of Cape Girardeau, Missouri took in a total of five first-generation MR2s of varying specs and mileage from a single owner at once. Talk about unexpected. Japanese Nostalgic Car spoke with Ben Brotherton, the sales manager at Coad Toyota, to get the details behind this unusual trade-in.

When you trade in your old car for a brand new model, one of three things can happen . fatir29/Shutterstock. Unless you ’re trading in a car that is in nearly perfect condition, with low enough mileage, and a close to recent manufacturing date—in which case, why are you trading it in again

The first impact when you trade in a car with a loan and have a negative equity situation is you will face a higher interest rate. All lending rates are based on risk, and if you are borrowing more than your vehicle is worth. If you should default, recovering the vehicle from you doesn't clear the loan with the

Wholesale

Say you’re trading in your old trusty truck for a smaller, more environmentally and pocketbook friendly sedan. The dealership you would choose to go to is probably pretty well known for its smaller, more environmentally and pocketbook friendly sedans, which means not a lot of people are walking in looking for a used truck. So instead of taking a loss and letting it sit around in their lot for years, depreciating in value and standing out from their pristine line up, the dealership will drive it down the road to the lot with all the other trucks, and sell it to them wholesale, or trade for the nice used sedan someone just traded in for a truck. According to experts at The Drive, most cars that are traded in will end up here. The fact that your salesman got the car from another dealership’s trade-ins may not be a secret, but he certainly won’t want you to know these 34 car buying tips.

12 Tips for Negotiating With a Car Dealer

12 Tips for Negotiating With a Car Dealer The best car-buying experience starts with preparation. Knowing what you want to buy by using resources like our new car rankings, knowing how to finance your purchase, and knowing how to avoid common traps will protect both your wallet and your sanity as you negotiate your purchase at the dealership. Before you even think about talking with a salesperson, read the following pages for tips on how to negotiate and what can be negotiated, when to buy, and how to get a great deal on financing.

Car Selling & Trading In. what happens when you are upside down on trade in? 2 Answers. I want to trade my 2015 charger for a 2016 challenger and I just financed a car and I owe k on it . I want to trade it in because I hate it and I hate nissan. If another dealership is offering retail consumer cash

When it comes to buying a car , most people go above and beyond their basic transportation needs. They pay a lot for luxuries: DVD players, navigation If you lease, you can try to swap your lease or else try to trade it in early to a dealership. Options for Car Owners. Once you are ready to tackle the

Public auction

The third direction for a trade-in to head is to a public auction. “Most of the cars at a public auction are the worst trade-ins or very rough repos,” Steven Lang, owner of a used car dealership told Popular Mechanics. Cars at public auction can be in extremely rough shape. “I’ve personally seen cars with over 300,000 miles on their clocks rolled back to 120,000 and sold as ‘Miles Exempt’ meaning no guarantee of mileage,” Lang said. This is the destination of cars that look like they are a few miles away from spontaneously catching fire. Dealerships and even the general public can take advantage of the dirt cheap cars here, but Lang generally recommends against it unless you are a seasoned mechanic. For the most part, these cars sell for less than a thousand dollars but if you’re really looking for a steal on a nice car, find out what happens to all of the new cars at dealerships that never get sold.

The post What Happens to Your Car When You Trade It In appeared first on Reader's Digest.

Read More

How To Buy a Car With Your Costco Membership.
You could save thousands through the Costco Auto Program.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!