Have an upside down car and a leased car

Asked by Sep 04, 2018 at 04:32 PM about the 2012 FIAT 500 Lounge Convertible

Question type: Car Selling & Trading In

Hello,

I currently have a 2012 Fiat 500c that is upside down (car loan left is $8000)
and appraisal from dealer is $3000 (private is likely $4-6K). I want to sell this
car and get rid of it, as I have no need for it anymore (was an ex's car). I also
am leasing my personal car (2017 Honda Fit LX). I basically want to have
one payment and one car. Is it possible for me to trade in the used car and
break my lease and just get one car (i.e finance one car after giving both of
these cars up). I know this sounds complicated, but is it possible?

Thanks!

2 Answers

245,445

First of all you must Read Your Lease! If the other car is upside down you have a few choices. You can pay it off or roll the balance over into another, bigger loan or just keep paying. Clearly selling it to a private party is the way to go if you sell it. I would give the car to the EX if you can. Make sure they take over payments so that you are not on the hook anymore!

1 people found this helpful.
245,445

Probably all your options will end up with you being even more upside down that before. Buy a car you can live with for 5 to 10 years or even more!!!

1 people found this helpful.

Your Answer:

500

Looking for a Used 500 in your area?

CarGurus has 401 nationwide 500 listings starting at $2,490.

Postal Code:

FIAT 500 Experts

  • #1
    Pabs
    Reputation
    2,230
  • #2
    Dave Rubino
    Reputation
    980
  • #3
    Guru5BLM3
    Reputation
    910
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used MINI Cooper
40 Great Deals out of 745 listings starting at $3,995
Used FIAT 500e
6 Great Deals out of 26 listings starting at $14,100
Used Ford Mustang
69 Great Deals out of 1,844 listings starting at $6,000
Used Volkswagen Beetle
11 Great Deals out of 438 listings starting at $3,495
Used Honda Civic
186 Great Deals out of 6,202 listings starting at $1,557
Used Ford Fiesta
21 Great Deals out of 493 listings starting at $2,295
Used smart fortwo
11 Great Deals out of 152 listings starting at $3,690
Used Volkswagen GTI
22 Great Deals out of 472 listings starting at $3,995
Used Chevrolet Spark
13 Great Deals out of 2,569 listings starting at $2,052
Used BMW 3 Series
183 Great Deals out of 2,602 listings starting at $2,729
Used Jeep Wrangler
32 Great Deals out of 1,716 listings starting at $5,500
Used Honda Fit
18 Great Deals out of 448 listings starting at $950

Used Cars For Sale

2016 FIAT 500 Lounge Convertible For Sale
5 listings starting at $13,994
2015 FIAT 500 Lounge Convertible For Sale
3 listings starting at $10,295

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.