ValenciaS

Hey everyone i got a quick question, my gf just bought a toyota yaris brand new 2009 she has not made her first payment yet. She wants to trade it in for a 2009 honda civic something with more space since i have the Tc she does not want one. Is it possible to trade in a car you just bought and you haven't even made your first payment ?

AaronDLCtC

yeah you can but your gonna lose money cuz as soon as you drive the car off the lot its its no longer worth what you paid. the amnt. that you owe that is over what the yaris is worth will have to be rolled over into your new loan or lease for the civic, basically youll be financing your new car for a lot more than its worth.

AaronDLCtC

the only thing saving you is that the yaris is so new, the amnt. that is rolled over probably wont be that much

ValenciaS

we still have new credit and are still establishing it, should we wait at least a year or two whats your best bet

AaronDLCtC

your best bet is to either do it right away before the yaris depreciates and expect to pay for it or wait until youve paid it down to where its worth more than you owe on it then youll get credit towards the civic or at least break even. As far as your credit goes it really only effects you if multiple credit checks are ran together or you have poor payment history.

Kefferj

yeah your girlis like mine... Same thing..we are gonna keep the yaris until we pay at least half of it off... That sucks I know

AaronDLCtC

trading in a new car right away can actually help your credit a little cuz its shows up like you paid off a car loan for multiple thousands of dollars in a very short amnt of time

Kefferj

Very true but we rolled alot from her eclipse spyder gt into her yaris so we are way set back on it already... Plus she learning to drive my 5 speed so she doesnt really mind it anymore

AaronDLCtC

of course this is all stuff you dont want to do multiple times but if you did it once it probably wouldnt hurt your credit it just can make things harder later, for instance (heaven forbid) you get in an accident before your new civic is worth more than you owe, it will drastically drop in value and will be even worse cuz your loan was already for more than than it was worth

AaronDLCtC

basically you could be paying 25k for a car that is worth 6k or 8k and that freakin sucks cuz then wen you need a new car cuz the civic finally craps out or sumthin no one will finance you

AaronDLCtC

its probably always better to wait til your current car is worth more than you owe its just safer but to each their own, good luck

Yanki01

talk to the dealer, they might be able to work with you if you buy the car from them. but being that its going from Toyota to Honda, it might be a little harder if its a totally different dealership in which im guessing?

RodC

Whatever happened to test-driving and doing some research before buying a brand new car?

Kefferj

yeah... research woulda helped on that one... But it was what she had to have... anyways you deff. dont want to be swapping cars out alot(if your financing) because your gonna see your payment go through the roof.

ValenciaS

yeah i know what you guys mean, how much do you think a 2009 scion tc will be worth in very good condition 2 years from now ?

ctclipper24

12-15k IMO

Kefferj

I would say with less than 20,000 miles def. 12-15... It would be more likely be toward the 15 side if you sell it to a person not a dealer though

CXT

I say you run away from this chick before she files for bankruptcy and brings you down with her.

mattvs

This. Get out now.

XPRESSCION

This is why I'm making my stupid mistakes before getting serious on dating. I've trade in '06 xA within six months for '07 tC. I was making minimal wage when buying the xA and got better job that made me twice what I was making.

My question is why she didn't get a Civic in the first place????