I have a 2010 Chevy Equinox paid 17,000 had it for a yr. I want to trade it for another used car but newer is this a wise decision?

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byannalfo answered 3 years ago

Define 'wise'... you're going to be dropping some money because of depreciation... without options/miles, I couldn't give you a number as to what you'd be looking at for a trade value, but my guess is that you'd probably be looking at 10-12k in trade value since a dealer will look to seel around 13-14 and need some wiggle room... so the thing is, are you OK with dropping that much for having driven it a year? If you are, then go out and get something fun and enjoy it... if not... well... lets face it, any type of car buying isn't a 'wise decission' because it is a depreciating asset unless you start buying collectables and those are a crap shood because they are only worth what someone else is willing to pay!

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paulhess3 answered 3 years ago

You will most likely have some negative equity on the Equinox unless you put a substantial amount down but either way you're going to lose a couple thousand on switching so soon........

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Mike answered 3 years ago

No