Can I trade in my current car for toward the purchase of a new car?
Asked by Guru9X5P9B May 14, 2021 at 12:21 AM about the 2020 Honda Accord 1.5T Sport FWD
Question type: Car Selling & Trading In
I would like to trade my car for a Jeep Grand Cherokee Summit, Overland or
Limited. I'm wanting to lower my monthly payment. I am upside down about
6-$8000 depending on $ amount for my trade.
3 Answers
You cannot lower your payment by buying another car and then adding onto the balance another 8 grand. Buying any Jeep is a bad idea.
The amount you owe on your trade in gets added to the cost of the new vehicle whether you're upside down or not. Doing this will absolutely increase your monthly payments because you'll be paying for two vehicles. One of which you no longer have! Unless your trade in is falling apart and costing you lots of money to keep it going this is always a bad idea!! Hope that helps! Jim
Tired of a reliable car and want an expensive adventure driving an unreliable Jeep?
