If you are upside down on the vehicle (you owe more than what it is worth) then typically the finance company will add the upside down balance onto the price of the new vehicle. If the dealership is offering incentives such as rebates and the like, then you could use that rebate to off-set the balance of the truck. This happened to me when I traded in my mustang for an Isuzu Rodeo. The rebate I received on the Rodeo was just enough to balance out the mustang so they did not add anymore to the new vehicle. Another thing that you can do is to determine the value of the truck using Kelly Blue Book, then try to sell it to a private party. You can usually make out better than trading it in, since the dealership is going to try to lowball you on trade in, and trade-in values are a lot lower than selling it to a private party. Also, still determine the trade-in value of the truck and have that information handy for the dealer. If the dealership sees that you are doing your homework, they might be less inclined to try to screw you over. See what similar trucks are selling for in the area, both at dealerships and through private parties.
Bruce Greg Morphis wrote: > I have a 2006 Ford F-150 with only about 9K miles on it (due to gas > prices). I do not own the truck yet, I still have roughly 20,000 owed > on it (have paid over 12,000 so far). Anyways I'm considering trading > it in for something smaller. What's the process of trading in a > vehicle that you don't own? > > Thank ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;192386516;25150098;k Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:261436 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
