Selling a car during the payment period bought from car guru

Asked by Joseph Jan 28, 2021 at 06:29 PM

Question type: Car Selling & Trading In

If I buys one of these on financing cars can I sell it
back to dealerships after 1 year

2 Answers

40,360

So are you asking if you purchase a vehicle and finance it, can you trade it in after a year. The answer is yes you can, but unless you put a lot of money down at signing, you will take a huge hit when trading it in and potentially own thousands if you do. You don't want to add it into the new loan, that is just a bad idea. My advice is to find a vehicle you want to drive for many years, pay it off, then drive the vehicle for a few years after with no car payments.

You will probably be upside down on your loan. Check the car value vs the loan balance.

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