wanna trade a car in with no equity

Asked by 75flavas Apr 14, 2012 at 01:41 PM about the 2007 Saturn Sky Red Line

Question type: Shopping & Pricing

just bought a car a few months ago havent driven it and would like to find a dealership that may trade it in for something else. is this possible

3 Answers

22,815

It depends on how much you owe on the car compared to what it is worth trade value- if you owe 20000 and the car is only worth 15000, you probably won't get a bank to do it unless you put the additional 5000 down to make up the difference. It also depends on the value of what you want to buy- if the seller is selling their vehicle for way under book value, you might be able to make up some of the difference there. Your credit score will also be a factor- if you have good credit, there may be something you can do. The best thing to do is go to the place which has the car you want and lay it all out for them and see if it will work- good luck.

2,035

If you find you must trade the Sky and will be a little upside down, and if you plan on having the new car 3 years, you may want to consider leasing. Leasing is a great option for making inequity go away. Without knowing too much about your previous purchase history, trends, it's a tough guess. Have you gone back to the dealer you bought it from and ask them how much they'd buy it for? If they sold it to you they already bought it, and might have another chance to sell it again. Summers almost here, you may want to try listing it on ebay a few weeks. Canadians are looking for them too, as a seller, give your buyers lots of options! Just like a dealer has to. Good luck, sorry it didn't work out. Next car, try an overnight test drive to make sure it's the right one. These things can be costly experiences.

Your Answer:

Sky

Looking for a Used Sky in your area?

CarGurus has 6 nationwide Sky listings and the tools to find you a great deal.

Postal Code:

CarGurus Experts

  • #1
    Michael Kane
    Reputation
    210
  • #2
    Brian Black
    Reputation
    110
  • #3
    TheDivaGirl
    Reputation
    90
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Pontiac Solstice
24 listings starting at $7,950
Used Chevrolet Corvette
36 Great Deals out of 992 listings starting at $19,500
Used Ford F-150
299 Great Deals out of 15,725 listings starting at $1,712
Used Jeep Wrangler
131 Great Deals out of 5,143 listings starting at $6,995
Used Mazda MX-5 Miata
5 Great Deals out of 72 listings starting at $6,995
Used BMW 3 Series
69 Great Deals out of 1,205 listings starting at $1,995
Used Chevrolet Silverado 1500
171 Great Deals out of 5,940 listings starting at $3,995
Used Chevrolet Tahoe
18 Great Deals out of 745 listings starting at $5,995
Used Ford Mustang
49 Great Deals out of 1,268 listings starting at $4,995
Used Honda S2000
18 listings starting at $20,995
Used Cadillac Escalade
21 Great Deals out of 408 listings starting at $6,995
Used Dodge Challenger
21 Great Deals out of 477 listings starting at $7,999
Used GMC Yukon
26 Great Deals out of 754 listings starting at $4,995

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.