Negative equity

[FNR8DRZ]

Remember the bank will only finance 120%

I couldn't even refinance 3 months after owning the car.

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[rocks]

Remember the bank will only finance 120%

I couldn't even refinance 3 months after owning the car.

With all the repos, banks choose carefully whom they give loans to.

 

[TheX]

People get tired of that "new car/truck" long before it's paid for. My trade-ins were 9 and 11 years old.

My BS was $16k out the door after those trades. I'll never be upside down again. It's hard to not want the newest thing but resisting that can save you a LOT of money.

 

[RSH]

I can see a VW dealer or most dealers for that matter not wanting to pay much on a trade unless you have a popular vehicle or they jack up the price of the vehicle you are interested in to cover an inflated trade in value.

Have you checked what Car Max or Carvana would pay, they typically would pay more than a car dealer.

My daughter has a diesel gate 2013 Passat TDI and the dealer recently offered her 5k on a trade for a new Tiguan even though they are reselling Passat TDI's for close to 15k.

Assuming your VW is in decent mechanical shape and the body and interior aren't beat up you might as well drive it and get all your moneys worth out if it.
You haven't made or lost anything until you actually make some type of financial move with the vehicle be it trading or selling.

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