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Question for DEALERSHIPS

  #1  
Old 02-03-2010, 09:48 PM
Hondasforlife's Avatar
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Talking Question for DEALERSHIPS

Hello guys, I currently own a 2007 Honda Fit Sport Automatic and I still owe money on it aka I am financing it. I am tired of driving an Automatic Fit I want to trade it in to get maybe a 2007 Honda Fit Manual. What I was wondering is that if this was possible and what would the ramifications be if I were to do this, and if it is possible can you tell me what i should do? Thank you for your help
 
  #2  
Old 02-04-2010, 04:53 PM
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Yes it is possible. Your Fit has a value to it based on several criteria. That value goes against whatever you may owe. You then finance the new vehicle. Example
You owe 12k
vehicle worth 13k
you have 1k down on your new fit
You owe 12k
worth 11k
you can put 1k down or carry that amount onto the new loan.

Either way dealership pays off loan on first vehicle and then resells it. The harder part may be finding the manual Fit.
 
  #3  
Old 12-09-2010, 11:14 PM
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They will offer you wholesale (or less) for your car in trade and charge you retail (or more) for another identical car with a different transmission. You would be wise to keep what you have and remember down the road when you NEED to buy your next car to be a little more certain of how you want it equipped.
 
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Old 12-10-2010, 06:26 AM
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Originally Posted by whaap View Post
They will offer you wholesale (or less) for your car in trade and charge you retail (or more) for another identical car with a different transmission. You would be wise to keep what you have and remember down the road when you NEED to buy your next car to be a little more certain of how you want it equipped.
In short you are going to get screwed. Why do people buy a car with wrong tranny makes no sense.
 

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