How to Trade in a Car that is not Paid Off | MONEY $AVING TIP$

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Here is how to trade in a car that is not paid off and not get ripped off. The process is simple and with a few tips you will be sure that you don't get ripped off.
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You here all the time about people losing their shirt with buying a new car which may leave you wondering how to trade in a car that you still owe money on? If I told you it was a simple as drive into the dealer, set a price and walk out with a check you would probably think I was blowing smoke. However, the truth is that it's that simple. The complexity starts because a lot of people find themselves a loan that is upside down where they want to trade a car with negative equity. This was why it is so important for you to get best possible price from the dealer when your trading in your car. The problem is dealerships are trying to buy it for the lowest price you will let them get away with. Upside down car loans are everywhere and people attempt to trade in cars like this everyday. I provide some very useful tips in this video to help you get the most for your trade.
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6 май 2020

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Комментарии : 337

@BonBonHassan 3 года назад

I just followed your tips, got my car paid off and have a great 2016 car for about 8k less!!!! 😭😭🙏🏾 God is good!!

@DiamondEdwards 3 года назад

Amazing! Welcome to the community Abby😀!

@trippkristopher9201 2 года назад

I dont mean to be so off topic but does anyone know of a trick to log back into an instagram account..? I was dumb lost the account password. I appreciate any tricks you can give me

@Stagemydesign Год назад

How was the process

@billymcbilliam 3 года назад

Man, EXACLTY what I needed to know. Great job explaining the truth 👌🏽 subscribing now!

@DiamondEdwards 3 года назад

Thanks and welcome! New videos added weekly!

@JordanCann 4 года назад

Great video, brother! You broke it down like a champ!

@DiamondEdwards 4 года назад

I appreciate that Jordan! I’m trying to get this financial information out to the people one video at a time! New videos each week.

@orlandojefferson5477 4 года назад

I like your information. Straight to the point. Thanks

@DiamondEdwards 4 года назад

Thank you!

@loriedelvillar3785 2 года назад

You are a great speaker! thank you for sharing your gift.

@DiamondEdwards 2 года назад

Wow, thank you!

@darrelllewissr9413 3 года назад

I like the way you explained it. You are very knowledgeable about this. Thanks

@DiamondEdwards 3 года назад

So nice of you

@SuperThunder911 3 года назад

Great video, thanks buddy 👍

@drbayazdentalgroup 3 года назад

Good job Diamond in explaining the details.

@DiamondEdwards 3 года назад

Thanks!

@kingfelipe9564 3 года назад

You are the man !! Thank you for the great information

@DiamondEdwards 3 года назад

Appreciate that, but you're the one who clicked, watched, and commented. Go kill it, my friend!

@elise9151 3 года назад

Facts great video

@simplysounds5845 3 года назад

Dropping SO MANY gems in your videos, ppl just don’t know it yet. Please keep these videos coming 🗣

@ProJvst 2 года назад

this video answered all my questions wow thank you !

@carlosprieto1058 3 года назад

great video my guy!

@lgarzoria 3 года назад

Excellent info, thank you!

@DiamondEdwards 3 года назад

Thank you!

@wandering_gnome2868 2 года назад

Thank you so much for the information you are such a big help you answered my questions to the T.

@noahrockhill7749 4 года назад

Very insightful, thank you

@DiamondEdwards 4 года назад

Thank you for watching.

@aminuabdullahi5922 3 года назад

FINALYY A GREAT EXPLANATION

@DiamondEdwards 3 года назад

Thank you😃

@anareyescreations 3 года назад

Thank you for your helpful information. I'm a new subscriber!

@bryanpadilla8826 4 года назад

Thanks for the info. Just called my lender and found out I'm finally building equity in my car that I want to trade in. So I'm in no hurry to get rid of it. Now I can patiently look for another car to buy.

@DiamondEdwards 4 года назад

That means its getting paid off which is a good thing. Once it's paid off I would ride in that joy for awhile. It feels good!

@bigkl9078 2 месяца назад

Great info. Thank you for the video.

@brentgray8228 Год назад

Great Video Appreciate the Information

@burgandiwatson2477 3 года назад

Really great video! Thanks!

@DiamondEdwards 3 года назад

Thank you!

@benjaminaguirre7102 3 года назад

good video helped out alot

@brettkimball6612 3 года назад

Just subscribed Diamond, thank you very much for sharing your knowledge. You're really going to save my butt.👍

@DiamondEdwards 3 года назад

Glad to help. Welcome to the community!

@Eternalwordsofwisdom 3 года назад

Thanks good advice

@IDBL123 9 месяцев назад

Great video!

@mysticnj 3 года назад

Thank you for your detailed video! Can applying negative equity to loan apply for (certified)used cars or only new cars? I would like to get a newer version of my current truck but still owe about 4K.

@mariag1588 3 года назад

THANK YOU !

@christinafreeman4260 2 года назад

Great way of explaining how it works. I keep getting letters that my 2019 Ford Fusion is in high demand. I owe $20,000 left on the loan, so I’m hoping the value is more than that. Thanks

@DiamondEdwards 2 года назад

I through about doing a video just covering those letters! Most of the time it's just a marketing tackle to get you in the door. Sometimes the marketing team don't even tell the sells team so they are clueless when you bring it in.

@hassanmeraj8037 3 года назад

Great information...

@jasminwhitfield1117 3 года назад

Thank you so much

@jeremysalazar9532 4 года назад

Thank you so much for making everything easy to understand, I hope the best for your channel

@DiamondEdwards 4 года назад

I appreciate that! It's my mission😀

@ALMiGhTyKuLTuReJeYy 3 года назад

Great video bro hand one if the best about cars on youtube

@DiamondEdwards 3 года назад

I truly appreciate that!

@GuteInk 4 года назад

very helpful

@valerieyoung2125 9 месяцев назад

Thank you good sir!!!

@tennesseegirl5539 4 года назад

Super video. You are great

@DiamondEdwards 4 года назад

Thank you very much

@esanmarques90 3 года назад

Recently traded in my car that had a notes on it. They got the pay off amount but took forever to pay it , now I am billed with the difference of a new pay off balance

@celesteestrada4739 4 года назад

Ooooh. Im looking to trade in mine in the next couple weeks. Thank you!!

@DiamondEdwards 4 года назад

Because of COVID-19 the auto industry is saying that wholesale is down 8% but retail is down only 1%. AKA we’re going to give you less for your trade and sell you a car at retail. Don’t be a sheep, GET what your car is worth or go somewhere else!

@Vegasmadee702 4 года назад

Diamond Edwards Any experience with rental companies car sales ? I want to trade my Camry for a camaro. Can I get a trade in value estimate over the phone before heading to Arizona. Can I finance through hertz? Can you Negotiate with them?

@DiamondEdwards 4 года назад

One of my current cars was a rental (AVIS). I've had it 9 years with 130k miles and no major issues but I bought it from a dealer who purchased it from an auction. I have never dealt with the rental company directly. I would just give them a call but all car buying rules 101 apply. You can get a instant online trade in quote at autotrader .com. Don't let them steal your trade.

@michaelhauserjr9790 3 года назад

@Diamond Edwards Hello I bought a 2012 mustang coupe premium in september 2020. It wasn't a trade in. My car loan is 5.5. which is 66 months. My car payments is $350 a month which is a lot. I been having a buyers remorseful crisis off and on since october. I wish i would have been more open to 4 door cars instead of mustangs. I put my heart and soul into wanting a mustang but at the same time i wish i was more open to 4 door cars but i can't go back and change something that's already happened. I can't refiance my car right now because i owe more on my car than what it's worth. I'm not planning to keep my car for all 5.5. years and i'm not planning to refiance. In the near future i want something that's more affordable and not so expensive. My question is how many years do i have to wait to trade my car in without refiancing?

@rebeccacooley8249 4 года назад

Very good information

@DiamondEdwards 4 года назад

Glad to help!

@tonspike 4 года назад

Thanks for the easily digestible information. Something I haven't found anyone cover yet is: how do you protect yourself when trading in a car? How do you make sure the dealer actually pays off the loan? Do you get this in writing? When is it safe to cancel insurance on that vehicle? Etc.

@DiamondEdwards 4 года назад

The best protection I can think of is due diligence. You are responsible for the old loan until it is paid off even after a trade. I would track the old loan until I see the balance is zero and if it took more than a week or so I would be on the phone. You should have this in writing but check your state laws. I would be comfortable canceling insurance the day after it is traded because you should have a documentation showing that you sold it to the dealer. Legal owner and debt obligations are not always one in the same.

@brandonspencer84 3 года назад

I got 3 years left

@freespirit8635 Год назад

@@DiamondEdwards what about requesting that they cut YOU a check rather than them sending a payment to the loan company? That way you have the money in hand for yourself, to directly make the payment? ...

@rr84 3 года назад

This is great info! I'm about to trade-in my suv for a truck.

@DivaDen 3 года назад

This video was very helpful! Only had my car for a few months and I'm already ready to trade it in LOL Let me watch some more of your videos and get educated. You deserve way more subscribers.

@rafaelsolitario3038 3 года назад

Did you already trade your car in?

@jordanloks5363 3 года назад

@sandyornelas1119 2 года назад

I’m in the same situation right now. How did it go?

@squadbnk7896 2 года назад

Did you ?

@taythagoddess9211 Год назад

Same!!! Its been a month lol

@beyondartists7641 3 года назад

Very helpful

@DiamondEdwards 3 года назад

Glad to hear that

@asafamily8817 2 года назад

you are amazing im looking to trade my yukon in for a mini van still owe on it tho this helped me a ton

@V_Train Год назад

Hey man I appreciate the video buying a car shouldn't be impossible

@RandySmith580 3 года назад

New sub thanks 4 the info 🙏

@DiamondEdwards 3 года назад

Thanks for the sub and welcome to the community!

@sadherb5069 4 года назад

I have about 5,999 left on my 07 Camry.. and I want it gone. I’m trying to look to sell it for maybe at least 4-5k... this video saved me

@michaelb.8953 3 года назад

That's crazy being underwater on a 13 year old car as of your writing.

@sadherb5069 3 года назад

@@michaelb.8953 yeah i will never get hit like that again.

@leciapeters463 2 года назад

Who great video thank I God Bless

@DiamondEdwards 2 года назад

Glad you enjoyed it

@harvey2539 2 года назад

Thanks bro

@amwot6699 Год назад

Thank you

@sandraolivarez3949 3 года назад

Very useful information! Was looking to trade in 2017 Acadia for a 2020 Mazda CX-5 BUT I have negative equity. Thankfully I watched your video. Even though there’s one thing about the Acadia that I hate, I’m gonna have to put up with it due to being sooo inexperienced.

@DiamondEdwards 3 года назад

Thank you Sandra. Putting up with a very nice 2017 Acadia while you get it paid down/off is a smart move. You don't want one car deal following from car to car. Watch this view for "10 tips to buying a car and not hating life after" ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-m1FE-gyyaJY.html.

@HJ-dw8mj 2 года назад

Excellent

@danb8606 2 года назад

Awesome stuff, man. If you are upside-down say, $8000, can you go to one of these buyer dealerships and sell your car to them, and then after that, take that remaining $8000 or so that you owe the bank/lender and roll it into the purchase of one of their cars for sale? I'm trying to downgrade, as my loan and payments are wayyy too high ($710/month) for my 2020 Charger R/T Daytona. So I'd like to sell the Charger and then buy cheaper, with the $8000 still owed rolled into it. Can they do that? Thanks.

@JesseMadrid23 Год назад

Ok I have a question. I owe less than what my car is worth so I have equity. I want to trade the car in and upgrade. Can/Should I add more cash to get the payment where I want it after moving the positive equity from my trade towards the car I’m trading it in for and how quickly would I need to check for my loan on my trade in to be $0 paid in full. Thank you! I’m still learning so if what I asked is dumb then that’s why I want to know. Thank you man! Just subscribed as well party🎉

@jafp1617 2 года назад

So does a good credit score help in this situation? Like having a 700 credit score and above? If you really want to get a new car(or a very low mileage used car, years 2019/2020) then you would have to put a big down payment with a little negative equity for a trade-off?

@jasonray2827 2 года назад

8:20 yessss thats what they did to me I was so confused

@Ms.Haleyy 3 года назад

thank you for this advice! Would it be worth it to detail my car before a trade in?

@DiamondEdwards 3 года назад

Just a standard Saturday wash/vacuum is all I would do. Make sure you know what it is worth before you go to the dealer.

@ItzKingMagana 3 года назад

I have a special scenario: Let's say I got a brand new car from the dealership a few months ago, and I now owe about 24k on it, then months later you see that the dealership is selling an exact new make, model, color, and year of your car for about 22k; could I trade in my car for it? If one, my car's trade it value is the same of the new one? Two, can it be from the same dealership that you purchased your new car from? Three, would my 24k be essentially gone since I would trade in my car for their new car and be debt free or would a new loan be started?

@gabesgaming7064 2 года назад

I only owe 1300$ left on my 2015 civic and I’m gonna a trade it in as a down payment on a 2022 civic. Thanks for the info.

@DiamondEdwards 2 года назад

That's plan. Have you ran the numbers if you paid off your 2015 and started investing that car into a S&P 500 fund? Looking 5 years in the future it may make you rethink starting over with a new car payment. Just a thought! Congratulations on getting your car paid off!

@4knewt505 3 года назад

I wish I saw your videos 20 years ago.

@bigbloc202 2 года назад

BRO THIS VIDEO IS SO HELPFUL, MY QUESTION IS SO IF I TRADE MY CURRENT CAR THAT I STILL OWE ON IN ID STILL HAVE TO PAY THE MONTHLY NOTE UNTIL THE LOAN IS PAID OFF ON TOP OF THE NEW NOTE?

@alang4086 Год назад

I have the same question man 😂

@drvenhrd46 2 года назад

Can they roll the negative equity to your new existing loan? Let’s say I have a 6k negative equity and I’m trying to purchase a 20k car will they add the 6k on top of it?

@michaelhauserjr9790 3 года назад

Hello I bought a 2012 mustang coupe premium back in september of 2020. It wasn't a trade in. My car loan is for 5.5. years which is 66 months. My car payments is $350 a month which is outrageous. I been having a buyer's remorseful crisis off and on since october. I'm not planning to keep my car for all 5.5 years so my question is how many years can i trade in my car without refiancing and how many years will i be halfway through my car loan? If you could give me some good advice i would greatly appreciate it. Thanks

@Sventy11 2 месяца назад

The trade in and purchase are not separate at all. If you trade in a car for 30k and buy a car for 40k, youre only liable to taxes on 10k difference.

@athleteg1g.481 4 года назад

I'm on it.

@athleteg1g.481 4 года назад

Thank you

@TheManOSteel69 3 года назад

I traded my 2016 sentra from carmax with 43000 miles I owe 12600 at 15% interest got a 2021 corolla 32000 at 5%. They were gonna give me 7000 for the sentra but I said no thank you then they went back and dropped 5000 more so it's kinda like they paid my car off.

@aaron1261998 3 года назад

You need an email or some sort of way we can drop questions. Curious to get your opinion on my situation and what I should do or what are my options.

@DiamondEdwards 3 года назад

It's in the video description and about me page. Reach out.

@parrisstowers1762 3 года назад

I have a 2013 Hyundai Ellantra I got it last year in December 9,000 and since then I’ve have a new baby and really want to trade my car in for something with three rows I still owe 6,000 on my car what would you recommend I do. I open for all options

@StacksStark 3 года назад

Bro, are you available for some 1 on 1 counseling? Email or Zoom? I'm thinking about trading in my '12 VW Jetta for '19 VW atlas. I owe about 4k still on the Jetta. My loan was bogus, I was young and inexperienced and it's cost me thousands. Jetta value ranges from 4-6k. Atlas is 30k. Not trying to get washed again. Definitely taking the time to do my research.

@DiamondEdwards 3 года назад

Hit me up on IG@diamonddedwards or email @diamonddedwards@gmail.com

@easysmokeshopmarket2326 3 года назад

Poppy I will è2SS

@Ann-ub4mf 3 года назад

Diamond is your first name and it's my last name,😁 Thanks for the video and the excellent information. 🙂👍

@DiamondEdwards 3 года назад

Cool, thanks

@Ndasuunye 2 года назад

I got a question. Is it better to pay down the balance and wait a few months before getting a new car, or find the appraisal worth of your car, pay it down to that (or less) appraisal value and then trade it in for a new car (that will be paid off quickly)?

@thetraveler6947 Год назад

Got the same question tho

@authentikbeauti Год назад

@diamondedwards

@baddantt1141 2 года назад

How do i kee track if the dealer chooses to pay off the auto loan

@Oheneba64 2 года назад

Hey Diamond, pls how do I negotiate to bring down the vehicle price?

@DiamondEdwards 2 года назад

That’s going to be difficult in a market we’re car price increased 20% in value over the past year. I would tell them my price and if they can’t do the deal find another car. Don’t play yourself and over pay for a car. It will hurt later!

@brandonspencer84 2 года назад

Also Carvana

@romariosmith422 4 месяца назад

In my situation my car is just not in a good shape so i doubt most dealers would take except for carmax lol

@boubacarbah1937 4 года назад

Thank you so much for this information. I’m actually in the process of trading my 2019 Nissan Versa that has 15k miles on it and the info that I got from this video will be very useful for me

@DiamondEdwards 4 года назад

That's what's up. Glad it helped! What are you getting next?

@margorobinson6726 3 года назад

what if the small loan balance is in Collections on a car you owm, can you still purchase a car? Which is not the best idea to do!

@DiamondEdwards 3 года назад

Sure, I would buy a cheap car to get you from point A to B and use the money you don't spend on a new car payment to pay off your old debts. Once that is clear up its become easier to save for a nice car. It's hard to do anything when you are saddle with hefty payments.

@charielysbell8660 3 года назад

What if I am going into the dealership with money down that is more than my negative equity? Would that still help my trade in to get that credit on the new vehicle I’m willing to purchase?

@DiamondEdwards 3 года назад

Like I said in the video treat this as two separate transactions. If you have negative equity part of your money will be use to pay that. If you have any money left that is your down payment. Negotiate the out the door price of the new car, once that is in writing then negotiate your trade. Once you have the deals negotiated its okay to write it up as one transaction. They will try over and over to combine these transactions early in the process because its harder for you to see what you're getting for your trade and what your paying for the new car. This is how people screw themselves everyday on car lots across world. Do not let this be you. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-m1FE-gyyaJY.html

@DREQON2005 2 года назад

I got a car I just bought and have payments but I have engine problems already after a month now I wanna trade it in I’m probably definitely gonna be upside down I’m only a month in

@sarahlemay267 3 года назад

Do you know what would happen if I wanted to trade in a financed car that still has money owed on it, but the cosigner I had for the original car has died? It's a 2015 Nissan but I finance it through Carmax

@DiamondEdwards 3 года назад

Sorry for your lost. As long as the title is not in the cosigner name the trade should be straight forward. The dealer send a check to bank for the trade in amount and you are responsible for the different unless you trade value is equal to higher than your loan balance.

@RingtoneCentral 3 года назад

Question- If i made a downpayment at a dealership, and i am paying monthly payments for a vehicle. Do you think the dealership will allow me to trade that vehicle in for a cheaper one even though i havent payed out for the vehicle?

@DiamondEdwards 3 года назад

The dealer will do everything in there power to made that trade happen. They will love to help you. Be warned that it is up to you to ensure you are making the best financial move to yourself. They will make it sounds good even if it sets you up for failure later. A cheaper car may or may not be the answer. Please do your research and proceed with caution.

@andreamedina4076 2 года назад

Someone please give me advice I’ve never had a mentor but I would really appreciate it. So I have a Kia 2018 optima which was financed through dealer I got a 4 something rate now I still owe almost 21k and now I need a 3rd row so I’m going w the pilot. The credit union already pre approved me for 45k at a 2.61 % rate idk if I should refinance rn or just trade in due to inflation but I really want to just get rid of it I seen a nice pilot the black edition for almost 41K I just want to make a good decision I am also willing to put money down I’m thinking 3,500 to 4,000

@josephberry105 Год назад

I’m dealing with that now… I owe $10K on my car and I’m trying trade it in to some dealerships but they all keep telling me no cause mainly sense my loan is still new I took a loan out on the car back in July.. So they telling me I gotta pay it down some more, than lastly not to mention when I got the car it had issues but I didn’t know that.. Now 2-3months later the Catalytic Converter goes out… So my question is it a done deal for me or can I still be able to trade it in?

@futurehunter_1 3 года назад

Thanks bro. I just bought a truck and I want to get rid of it.

@DiamondEdwards 3 года назад

What made you buy it? Why do you want to get rid out? What truck did you buy?

@alphaandomega2709 4 года назад

I have a 2018 Chevy Colorado I owe 22k but it’s worth 25-27k and want to trade it in for a Tacoma any advice if I should wait or maybe buy a used Tacoma for 20k?

@DiamondEdwards 4 года назад

It's always nice to have positive equity. The question becomes what do you want to drive for the next 5 or so years and how does this car purchase fit into your overall financial plan. Are you trying to get out of debt? If it was me and I wanted a Tacoma really bad I would find one equal to your value (out the door) so it is a even swap. Or I would get the Colorado paid off and start focusing on building my net worth so later I could buy and drive whatever I wanted without thinking much about it. That's what I am doing now that I paid off my truck. Which way are you leaning?

@kenyatta4rmdabeach745 3 года назад

I have 2018 Nissan Altima but want to trade it in for something a little older maybe a 2015 or 2016 Kia optima or Chevy impala

@DiamondEdwards 3 года назад

Why? Isn't all those cars around the same value as the Altima?

@jackiewillis7533 3 года назад

You are awesome!! I just bought a 2020 Maxima 4 months ago. but I'm not happy with it. Can I email you about possibilities?

@DiamondEdwards 3 года назад

I'm not sure you will like my answer but I am always open to help. Check out my about me page or IG.

@xGee16 3 года назад

I got a 2020 Altima this August thinking of trading it for a Dodge Charger lol

@edhardy9773 3 года назад

Hey, I owe about 4K on my Honda Civic and wanted to see if it’s better to trade in my car or sell it and then get a new car? If I do end up selling it and still having 4K in loans, can I just pay it with the money I got from the buyer? Or is it a different process?

@JeshuaAdorno 2 года назад

Car Price: $30,000 Car 1 Owe: $7,734 trade in value 12,113 Car 2 Owe: 18,807 trade in value 17,113 How much would I actually finance based on this information by trading in both vehicles that current I still owe on?

@DiamondEdwards 2 года назад

My calculator says you would have to finance $27,315 or more if the 30k is not the out the door price. Car payments SUCK!

@vince5539 3 года назад

When you trade your car in do you have to put a down-payment on the new car

@DiamondEdwards 3 года назад

If you don't want to be a slave to your car you should always put a down payment if not just pay in cash. Car payments suck! However, they rarely require a down payment unless you are upside down in which case trading is a bad idea but you usually end up worst off. Check the comments on my "Negative Equity video. Here is a video you should watch before you sign up for another car payment. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-cUotQTUU-d8.html

@anahi1501 3 года назад

I owe 13 thousand on my Ford Fusion but I'm looking into trading it in. I've had so many problems it's a 2016 and within the first 6 months I had to replace the whole engine and then a couple of months my transmission was messing up I got that fixed but now I'm car is messing up again. I don't know what to do. Also I've only had this car for one year and it only has 70 thousands miles on it

@waynemontgomery1612 3 года назад

I'm going through the same issue with the same vehicle

@IamKerious 3 года назад

I have a 2019 Kia stinger base model but it has added features like sun roof and better sound system like Harmon i owe $25,000 and on KBB my trade in value is 27,000 so is that good for me to trade in for a Dodge Charger scat pack? Also carmax offered $28,000

@brandonj6474 2 года назад

I think you should I’m tryna get a scat too .I just bought a charger sxt2015

@itsaaron-_-4288 5 месяцев назад

So would you get trade in value if your car is in the negative by like 1 grand?

@user-kz1ob9gk5x Год назад

Do they add on the taxes ?

@hayleysafari1740 3 года назад

I owe 11k on a car I just got. I’m making less money then I thought I’d be. I can afford car payments but when something goes wrong it’s pretty expensive 🥺😞 I’m thinking of trading it in for something maybe like 7 or 8k instead and a totally different type of car. Since I just got it a few months ago. Should I wait a year or something first before trading it in?

@DiamondEdwards 3 года назад

To be honest if you want something cheaper. The best move is to sell your car and pay off the loan. Starting from zero go out and buy a car that is more affordable. You don't want to carry your old deal into your new deal because it will cost you more even if you get a cheaper car. Thanks for watching and good luck.

@hughballs 2 года назад

I have a 2021 charger gt I want a charger rt with the hemi I haven’t made my first payment what should I do

@DiamondEdwards 2 года назад

Slow down and think long and hard before making any large financial decisions. IF you can make a clean break do it. My guess is you can't and if you attempt trade in the car it is going to cost you thousands of dollars and I would not do it! I would enjoy my GT and focus of getting out of debt and invest more because is where the magic happens.

@swankyari 3 года назад

Hi Diamond, I just purchased a 2018 Honda accord 2 days ago for $27999 with a $602 payment that im now realizing its to step of a payment.. can I go to a dealership to trade it in for something cheaper...

@DiamondEdwards 3 года назад

I would check your state laws to see if you have any legal standing to return the car and see if the dealer has any policy. Most likely you are own your own. You could trade it in but that will cost you thousands of dollars. Even if they agreed to buy it back at your original sales price (highly unlikely) you would be on the hook for the tax, title, and fee you added into the loan. I'm just guessing these were added because $28k is little steep for that car. You could jump on autotrader and get an instant cash offer to get a hassle idea of what a dealer would pay you for the car. If you know you can't keep up with the payment then it is better to dump it now and accept the lose assuming its not something like $10k because a repo later will be worst. Another option is to pick up some temp work to make the payments works for awhile. If you could refinance and get a better rate in say 6 months it could save you about $50 bucks a month. I'm guess with $602/month on $28k your sitting on a high interest rate north of 10%. Cut that in half and it makes a big difference. Check you this playlist as I have few videos that will help you through this: ru-vid.com/group/PLdKOWk-Vo99x2A-yIp4I17utR-MwLAykF I'm just curious and feel free to reach out to me on IG @diamonddedwards if you don't want to answer here. What made you decided in that moment that you could make this work? Did you have a budget before you went to the dealer?

@ea0602 3 года назад

I just traded in my car🤦🏻‍♀️ Wish I seen this video before I made the trade!

@DiamondEdwards 3 года назад

Hopefully the damage wasn't too bad!

@jadenmufucka7000 3 года назад

why?

@JordanOfAstora 2 года назад

I wish I say this as well they got me on the trade in and the car loan for the preponderance vehicle I was going for.

@gelooo2x 3 года назад

So let’s say the car ur trading in is worth 17k retail an sell it for 14k An the car ur getting is 16k Am I paying 2k for the car bc I sold mine or am i paying the rest of the car as if I was still paying for the first car I got?