I'm planning on trading in my moms car for a 2011 wrx. What would be the steps to do that? I'm new to this so bare with me.
Check Kelley Blue Book (kbb.com) for a trade in value. You'll be able to factor in high or low mileage and the car's overall condition (excellent, good, fair). This way you can get a fair price. HTH. -Jim
You say your Mom's car. Do you have title and signed over? If not stop right there until you do. Then just go to dealer and pick out the car, negotiate a deal, Do you have good/fair credit? As in 700? If so, don't let them charge more than about 4- 5% interest. Or cash? Find True market Value for the trade-in, subtract 25% and don't accept anything less for trade-in. Sign on dotted line and drive away.
HI Jim...I type slow
Hi, Fordnut, lol, me too. -Jim
Jim's way is better than mine for finding trade-in. Don't let them 'take' you. I test drove a 2014 Camry and almost bought it, they offered me $3000 for my Corolla..and I walked out with the salesman literally chasing me waving papers, "Wait Mr. .....lets talk!" I was insulted, but end result is I'm glad I didn't buy it
Thanks FordNut. Well the plan is to keep it under her name and I just pay for it. But first like you mentioned, have a better credit score. Thanks for the tip.
If it's going to be in her name you can use her score. And her insurance, with you listed as a driver.If you don't mind me asking what is your age?
I'm 22 turning 23
That's plenty old enough to do it yourself, and build credit. Even with a co-signer, the payment history goes in you name, not Mom's. But that's a $22-25,000 car. If you have the means, all well and good.