MerC240

Sorry if this is already ask but how long do you need to keep the car until you can trade your car in without losing so much money on it. I was thinking about downing a good chunk of change...I was thinking about 8k but i dont want most of it to go straight to loan I have.

The next car I'm thinking is the newer ML...no its not for me its for wifey, she fell in love with it when she first saw it... Now I have no choice but to get the car for her and I'll drive her TL...man from a Mercedez to an Acura !!!

Please help...

Merc240

morph860

trade in the TL for the ML, and keep your benz

MerC240

hahahaha No way man...thats another loan i have too pay...

06C230

+1


Well it's simple. Find out the trade in value of your car, compare that to how much on the loan you still have and then you can see if you're okay or if you're upside down.

MJ50

yeah, definitely try all u can to trade in TL

MerC240

ok I'll try that out maybe it'll work out better than trading in the Mercedes...hopefully...Thanks!

morph860

When Fast & Furious 3 comes out...put a Type R sticker on the TL and bring it to the theater with a FOR SALE sign on it.

patrick_y

I can't understand a word you are saying.

But it seems like other people can. Obviously, follow the procedure that would enable you to lose the least amount of money.

It'd help if you told us the year and mileage and approximate trade in value of all your cars.

ultraseven

If your wife's TL is younger than your C, then you will most likely lose less change as they hold their values better. Pretty simple.

revstriker

Not sure I understand this question. Surely you know that a car will depreciate the longer you own it. That's every day. So the longer you keep a car, the more money you will "lose" on it. A car is not an investment vehicle (no pun intended).

Now if you're talking about being upside down on your loan, then there is no way to really answer this question without knowing the details of your loan; loan amount, length, terms, etc... along with the rate at which the car will depreciate (there's no way to really know this). Of course, if you know all of this, then it's pretty easy to figure it all out.

Also, the longer the length of your car loan, the longer, you will be upside down on your car. Not just in time, but in percent of the loan. For instance, in a 4 year loan, you may be upside down for 24 months, or 50% of the loan length. On the same loan over 5 years, you might be upside down for 36 months or 60% of the loan length (these are just hypothetical examples).

You can always check the current balance on your loan, and check the current trade in and private sale value of your car (you can use kbb.com for this).

patrick_y

Thank you, exactly what I was thinking.

Personally, I am sorry to say, frankly, this thread wasn't exactly the best use of my time.

Get something that you like and that you can afford. Personally, i don't go switching around cars at my every whim because that gets expensive. I get something and I stick with it through thick and thin.

I don't believe in 1 year marraiges then divorce either.

Moviela

Great film, go see it. It's a man's film with plent of eye candy, and a very strange way to race....slinging yourself sideways. I guess Honda's are not that exciting in a straight line, so being nearly out of control is fun!