How to trade a vehicle, for a vehicle, for trade in.
December 31, 2012 10:14 AM Subscribe
Should I trade my rebuilt title vehicle for any other vehicle, just to get an increased trade in value?
I am in the market for a 2003+ Toyota Sequoia. Currently Mrs. NotSoSimple and I have a strict budget we would like to adhere to, so we have a hard limit as to what we will spend on a vehicle. We also want only one car payment. We owe $7k on our current vehicle. The plan is to sell/trade our other two vehicles we owe free and clear: 2002 Subaru WRX w/ Rebuilt Title and 1990 Isuzu Trooper w Clear Title. Problem is the WRX. Rebuilt title, no one will take it for anywhere near the $7k I need. I keep getting people offering to trade vehicles, which I shrugged off. 1 month later, still no traction, still getting offers so I began thinking outside the box.
What if I take a trade private party with someone who had a vehicle that would give me the $7k or more I needed. Then turn around and trade that vehicle in to a dealer, pay off my current loan, and purchase their car. Stupid? Genius? Any other tips on how to get out of the bind. Note to self and others: DOnt get a rebuilt unless you are FOR SURE never going to sell it. I was not forecasting 5 years down the road when we purchased it...