Trade in for car of less value then my own.

snollup

Hi all,

I've recently fallen into some finical difficulties and have to consider down sizing my car. I am wondering will a car dealer agree to refund me in cash if I was to take a car of lesser value then mine. My car would have a value of about 7k and so if I was to take a car from him worth about 4k would he pay the difference to me? I have a feeling not but just trying to confirm here. I know little about cars and the thought of trying to sell it privately is a bit daunting.

Thanks in advance.

Jarren

what car is it?

Jimdagym

You possibly would find one to do it as a straight swop, but no garage will give you what you think it's worth. Sell your car privately and buy for cash. It's your only chance.

bazz26

You will not get the true value of your car or the car you are looking to downsize to as the garage are in the business of making money from the deal.

As said, the best way to get as much cash from this arrangement is to sell your car privately and buy the other car straight out. It involves more leg work and potential time wasters but I cannot see you freeing up alot of cash going down the dealer route.

carbon nanotube

snollup wrote: »

Hi all,

I've recently fallen into some finical difficulties and have to consider down sizing my car. I am wondering will a car dealer agree to refund me in cash if I was to take a car of lesser value then mine. My car would have a value of about 7k and so if I was to take a car from him worth about 4k would he pay the difference to me? I have a feeling not but just trying to confirm here. I know little about cars and the thought of trying to sell it privately is a bit daunting.

Thanks in advance.

not a hope will a garage give u 4 grand plus a lesser car

be a miracle to find one that does. better go private

smash

A dealer will do it if your car is a desirable car. But if you say your car is worth 7k, then it's worth 5 or less to a dealer. So if he has a car for 4k, he probably got it for 3 or less in which case he might offer you his car plus 1k. Then sell yours for 7.

fasttalkerchat

As has been said its not a good deal for you.
Unless you are paying out a lot for repairs to your car, changing car to save money is not usually a good deal. If you need to free up cash now you could look into getting a hire purchase type deal so that you could sell you current car for 7k and just pay monthly on a new one.

Good HP deals are hard to find so get advice!

Gurgle

snollup wrote: »

My car would have a value of about 7k...

Only if you can find a buyer willing to pay 7k. Don't consider the ads for similar cars as valuation.

snollup

Thanks all for your advise. Reckon we'll try to hang on to it for as long as possible.

wonski

snollup wrote: »

Thanks all for your advise. Reckon we'll try to hang on to it for as long as possible.

No one says you should stick to it. But you will get best deal if you sell it privately, and after that buy privately.... Car make/model, year and all the extras will help to give you an estimate...There are some car fans in here too - one of them may be interested, if the ride is right...;)

Pottler

"Trade in for car of less value than my own"

Thats called buying a car from a dealer - ideally thats the deal they always do, preferably with you throwing in a few Grand to sweeten the deal for them.