Trade In Help!

[whithutch511]

So I need some advice about my trade in y'all.

I will be trading in a 2016 Fiat 500L for my BL+BL. Right know Kelly Blue Book is putting the trade in value about $1500 less than I owe on it, which I was fully expecting. The issue at hand is that my built date is not until March 1st which means I probably won't get delivery until early to mid April.

Due to COVID I will be working from home for the forceable future so don't really need 2 cars right now. So the question is should I sell my car now so I dont have a car payment until April or just wait to trade it in as planned? I guess the question is would it really be saving me money to sell it now since I am upside down on the loan?

Any advice is greatly appreciated!

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[GT1]

So I need some advice about my trade in y'all.

I will be trading in a 2016 Fiat 500L for my BL+BL. Right know Kelly Blue Book is putting the trade in value about $1500 less than I owe on it, which I was fully expecting. The issue at hand is that my built date is not until March 1st which means I probably won't get delivery until early to mid April.

Due to COVID I will be working from home for the forceable future so don't really need 2 cars right now. So the question is should I sell my car now so I dont have a car payment until April or just wait to trade it in as planned? I guess the question is would it really be saving me money to sell it now since I am upside down on the loan?

Any advice is greatly appreciated!

Get a bid from Carvana.com - I sold my 2013 BMW X1 to them this week for substantially more than dealers offered on Sport trade in and "books" as well.

 

[Bdub]

Also check out VROOM. They offered $2k more than Carmax on my Subaru Forester!

 

[TheMalamute]

I would consider selling private party. 90% of the time you will get more money in pocket than trade in value.

 

[dinglehead]

I would consider selling private party. 90% of the time you will get more money in pocket than trade in value.

Im not sure how it works in all states - but frequently the difference in trade and private party sale is washed out by sales tax savings.

 

[TheMalamute]

Im not sure how it works in all states - but frequently the difference in trade and private party sale is washed out by sales tax savings.

That is a valid point.

 

[Geojive]

You’re saying the trade in value is $1500 less? I would sell it on Cars.com or one of the listing sights. You will likely be able to sell it without incurring any negative equity.

I sold my 2012 Ford Focus for a little more than the dealer offered me, I might have been able to squeeze the dealer for a little more on trade in but probably not. It’s all going to the down payment.

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