What happens if one purchase a car and 3 weeks later one don like it can one trade it in for a different vehicle without extra money from your pocket?
Unfortunately, usually not. The car usually depreciates $500.00 to $2,000.00 or more depending on the car) when you drive it off the lot. The depreciation can usually be assessed by this formula: Retail – Wholesale = Dealer Profit. So, it’s unlikely that the dealer will return their profit to you. The dealer is most happy to take your car back in trade, but it’s very doubtful that you’ll get back what you paid for it. They have to buy the car back fron you cheap enough to be able to make a profit on it. So they’ll depreciate it and take a bit more off to compensate for it now being a used vehicle. Afterall, if I’m a car shopper, why would I want your month old, previously titled car for the same price as I can buy a new one for?? Thus, they’ll have to price your car less than the price of a new one to have any hope of selling it, which means even less money back to you. The best thing for you is to hang onto the car if you’re able, or sell it outright.
Related Questions
- What happens if one purchase a car and 3 weeks later one don like it can one trade it in for a different vehicle without extra money from your pocket?
- What if we don yet know the trade cost(s) for an extra, can we still generate a purchase order and enter the costs later?
- Can Sierra Leasing Company purchase my Trade In Vehicle?
