If I finance a 2008 Cheverolet Equinox in December of last year how long would it be before I could trade...?

Question

I am financing a 2008 Cheverolet Equinox that I gotten of December last year. How long do I have before I could trade it in?

Answer 1

its not as easy as you think it is. You most likely owe way more on the car then its worth. You still have to pay for this car if you trade it in you just owe double for one car. For example thats say you owe 25000 on this car and its worth 18000 now. You get a new car for 15000 but you'll owe 22000 for that car. Now if the car is not worth 22000 the bank will not do it. Basically you need to pay your car down a lot so it has positive value otherwise you lose  ons of money and banks wont do it if you owe to much on this car.

Answer 2

You can trade it now but you will loose alot of money.....