Not satisfied with auto purchase?

Question:
we made a big mistake of trading a car for another that we aren't happy with--have a large payoff--but are looking to trade down--meaning we paid to much for this vehicle--have any of you done this and what happens when you have a 23,000 vehicle and the one you want is 16,000--how do you go about trading and how do they figure this out---just curious to know if anyone has been in this situation--

Answers:

Tell me the pros and cons of leasing a car versus buying one?

Ok this is what happens.
Say your car is worth 23,000 as a trade, assuming you own it and there is no finance. They give you the new car, and write you a check for the difference.
OR
23000 minus the finance (let's say 15000) gives you 7000 equity.
16,000 new car minus 7000 equity. So you finance 9000.
OR
If you owe more than the car is worth, say car is 23000, and you owe 27000. They'll give you 23000 and add the 4000 on to the 16000 dollar car. so you finance 20000

If you had to choose between cars?

Hope that makes sense and helps

How can I find if a Mercedes Car is stolen, before I buy it?

probably your loss

Buying my first car...?

its hard to trade down when you are hooked like a trophy bass - good luck

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