View Full Version : Car trade-in as Downpayment and such ?


InsomniaDriver
10-09-2003, 03:59 AM
Aight... check this. I have a Green 2000 Protege (bought new in Dec. 99). It only has 35,000 miles on it even though its almost 4yrs old ! (result of not taking it to College my first year and half).

I already have the College Grad. Option to save $500, regardless...

Anyways.... anyone have any idea on the trade-in spectrum of prices ?? Basically, what am I looking at getting in terms of $$ back. Its in near perfect condition, no Accidents ever; couple of dings to be touched up etc.

To save me time and patience, I am thinking about trading it in, and using the money from that as a nice downpayment for my RX-8.

Advice, Suggestions... Inqueries ???

-up all night

eccles
10-09-2003, 10:28 AM
Here's a couple of sites that will give you an idea of what your car is worth as a trade-in:

Kelley's Blue Book (http://www.kbb.com)
Edmunds (http://www.edmunds.com)

Run the numbers before you head to the dealership.

mikeb
10-09-2003, 07:05 PM
depending on your situation time wise I would sell it private party to get more cash
dealers never give enough

8_wannabe
10-09-2003, 07:15 PM
Originally posted by mikeb
depending on your situation time wise I would sell it private party to get more cash
dealers never give enough

Agreed. Put it in autotrader or your local classifieds. You'll make at least $1000 more. On my Accord a few years back the diff btwn trade-in and private sales was $3500. I sold it myself.

eccles
10-09-2003, 07:21 PM
Originally posted by mikeb
depending on your situation time wise I would sell it private party to get more cashOf course, if you're in a state where you only pay sales tax on the bottom line after your trade-in has been deducted, you'll need to factor that potential tax saving into your decision.