How can you trade down your vehicle for a new one with a c heaper truck payment?

Question

I have a 2004 gmc envoy and I want to trade it for a smaller truck say a Ford Edge or Chevrolet Equinox and I need my payments to be lower than they are now.How do I go about this?

Answer 1

For starters, unless you have money down-or unless your car is worth more than what you owe...its pretty hard to lower payments.

You need to get a couple of appraisals done from different places and see where you stand there first...that way you know how much negative equity (if any) you are woking with.

The market on what you have is horrible right now...so it may be best to hold out for a little while before you trade...or just try to sell it privately then buy a different vehicle.

Good Luck either way!

C.Bond