To: ex-Texan
Isn’t it almost always a bad idea to trade in a car that you haven’t paid off?
3 posted on
02/03/2009 10:30:42 AM PST by
pnh102
(Save America - Ban Ethanol Now!)
To: pnh102
5 posted on
02/03/2009 10:32:53 AM PST by
Badeye
(There are no 'great moments' in Moderate Political History. Only losses.)
To: pnh102
It sure is, podner.
Get rid of that loan first.
6 posted on
02/03/2009 10:33:07 AM PST by
RexBeach
("Do your duty in all things." Robert E. Lee)
To: pnh102; ex-Texan
Isn’t it almost always a bad idea to trade in a car that you haven’t paid off?That depends on whether the cost of operating it over the rest of its useful life is higher than the cost of just eating the difference between the balance due on the loan and the trade-in value.
8 posted on
02/03/2009 10:34:03 AM PST by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: pnh102
“Isn’t it almost always a bad idea to trade in a car that you haven’t paid off?”
Not for the car dealer. Even before the economic crisis, dealers made very little profit on most new car sales... the gravy was from the used car side of the business...
9 posted on
02/03/2009 10:34:44 AM PST by
Chet 99
To: pnh102
Yup.
It’s almost always a bad idea to trade in, period. You almost always get more cash from selling the car outside of the new car transaction - i.e., privately.
21 posted on
02/03/2009 11:14:14 AM PST by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: pnh102
It was getting common for people to trade in cars for less than they owed on them, meaning that loss rolled overonto the new loan they carried. Crazy.
35 posted on
02/03/2009 12:12:45 PM PST by
Freedom_Is_Not_Free
(Countdown to depression: 99... 98... 97...)
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