Trade in ? for SUV ? or Wait
Thread Starter
Driver School Candidate
Joined: Apr 2018
Posts: 46
Likes: 2
From: CA
Trade in ? for SUV ? or Wait
Okay,
I made the wrong choice of buying the IS250 after finding out that I needed a bigger car. Right now the car is about 40K miles. How do I switch to an SUV without losing too much money ? Please advise. Thanks
I made the wrong choice of buying the IS250 after finding out that I needed a bigger car. Right now the car is about 40K miles. How do I switch to an SUV without losing too much money ? Please advise. Thanks
Lexus Test Driver
Joined: Mar 2016
Posts: 9,543
Likes: 2,597
There's no secret. Your car is worth what it's worth to a dealer vs. what you owe. You'll likely be upside down a few thousand at least. Just gotta eat it and learn a life lesson from it.
Agree the Lexus IS is already a small car. basically no bigger than a Civic (possibly even smaller inside).
Agree the Lexus IS is already a small car. basically no bigger than a Civic (possibly even smaller inside).
Thread Starter
Driver School Candidate
Joined: Apr 2018
Posts: 46
Likes: 2
From: CA
There's no secret. Your car is worth what it's worth to a dealer vs. what you owe. You'll likely be upside down a few thousand at least. Just gotta eat it and learn a life lesson from it.
Agree the Lexus IS is already a small car. basically no bigger than a Civic (possibly even smaller inside).
Agree the Lexus IS is already a small car. basically no bigger than a Civic (possibly even smaller inside).
Is it better to trade in now or wait until the car is paid off and sell ?
Moderator
Joined: Nov 2016
Posts: 9,640
Likes: 4,812
From: GA
On the other hand, did you get it from a dealer or a private party? You could try selling it to a private party to recoup a bit more of your money. But, if you took out a loan it'll be hard to pay off right now if you just took the loan out recently.
Rookie
Joined: Apr 2016
Posts: 66
Likes: 4
From: CA
You're better off selling private party than trading in. The dealers take a cut for doing the selling for you (since its easier/quicker).
Also, the longer you wait, the more the car depreciates, so the sooner you sell/trade it in the less money you'll lose.
You can also try to find someone to trade (maybe an SUV forum or Craigslist). This will require some luck, but could work out since it cuts out the middle men.
Also, the longer you wait, the more the car depreciates, so the sooner you sell/trade it in the less money you'll lose.
You can also try to find someone to trade (maybe an SUV forum or Craigslist). This will require some luck, but could work out since it cuts out the middle men.
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EthanV
IS - 2nd Gen (2006-2013)
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Jan 14, 2009 10:13 AM
