Trading in newly financed vehicle

Asked by Devyn Nov 06, 2020 at 07:42 AM

Question type: Car Selling & Trading In

So i had a 2017 Kia Sorento I had to trade in due to
some unforeseen circumstances. I got a 2017
Nissan Murano and I was overly excited about it
but now here i am 3 weeks in and i dont like it. Is it
possible for me to trade it in now? I havnt paid the
note yet and it still has temp tags.

3 Answers

32,160

You can trade it in to a dealer, but expect to lose a few grand in the process. It's not the best scenario. The dealer will offer trade in value or less for the vehicle. So you will have to buy less of a vehicle, aka cheaper on your new one or have a higher car payment.

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You probably took a big hit on the Kia and now you are going to take an even bigger hit on the Nissan. Unless you have a lot of cash you will probably be taking the bus to work.

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143,085

Some States have a cooling off period law for major purchases such as a house, vehicle, boat, etc. But unfortunately I would suspect after 3 weeks you're past that point. Check with your local Office of Consumer Affairs to be sure. I realize you don't like your new vehicle, which is ashame, but from a financial standpoint I think you should keep it. If you trade it in you will be paying for the new vehicle plus the last two vehicles you traded in (the Kia and the Nissan). Your car payment will be very high because the money you owed on the other two vehicles doesn't just go away. It's added to the new loan! We all go through hard times, I know I have. I say keep the Nissan and count your blessings. Be thankful you were able to get a late model vehicle that's dependable and will see you through your hard times. Then in a few years, when the hard times have passed, you can trade in the Nissan on something you really love! Hope that helps and good luck to you!! Jim

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