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Trade in question

tato's Avatar

Join Date: Sep 2006
Posts: 10

05-06-10, 11:29 AM   #1  
Trade in question

I have a pretty dumb question. I have a 2005 Chev. Tahoe that I would like to trade in on a new car. Tahoe is paid for but I don't want to use the entire value of it as the down payment on the new vehicle. How does this work? Can I say put $5000 of the trade in value toward the new car and get a check from the dealership for the balance? Do they do that?

Any thoughts would be appreciated.

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Shadeladie's Avatar
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Join Date: Jan 2005
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05-06-10, 11:39 AM   #2  
Not that I'm an expert at this, but wouldn't it be better to just sell it privately? I think you'd do better than trading it in, since you don't get as much for it that way, and I'm pretty sure they won't give you partial cash.

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Gunguy45's Avatar
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Join Date: Dec 2007
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05-06-10, 11:53 AM   #3  
Might want to check into CarMax and that other Mega dealer (Auto something?) they pay cash for your car no trade-in req'd. Of course a Tahoe may not be one of their big sellers...so the value may be less.

If you don't mind dealing with the hassle of private sale..you'll prob get a better price going that way. Make sure the vehicle is immaculate as possible and you have all your maint receipts if available.

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the_tow_guy's Avatar
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Posts: 11,473

05-06-10, 02:09 PM   #4  
I agree; see what will be offered for trade in

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gltucker's Avatar

Join Date: May 2010
Posts: 6

05-23-10, 12:48 PM   #5  
Your best bet is to go through with purchase, toward the end of the deal (numbers are crunched) that you now want to trade your vehicle in. That way you maximize the value of your trade and getting a price your comfortable with prior to the trade in.


I would put it on Craigslist. I sold me Malibu with 30,000 miles in 3 hrs.

igneous's Avatar

Join Date: Jun 2005
Posts: 236

05-27-10, 12:24 PM   #6  
How many miles on the Tahoe? If over 100k, try to sell it yourself....you'll get more private selling.
No, they won't give you cash or do any split deal. They'll sell you a new car for 30K, tell you the Tahoe is worth 6K (because of the economy or some other bullsh!t), then take the 24K you now owe them and try to nail you with the highest interest rate they can. So you'll still end up paying over 30k for the car. If I were you, I'd try to find the car I wanted used. You'll pay 30-40% less than new, and no new car back & forth to the dealership hassles just to get your 'money's worth'.

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