New car on finance, can i trade it in?

Question

i purchased a Ford Fiesta 1.25 Zetec about 4 months ago, I'm not happy with the fuel economy of it. i want a diesel now, but is it to early to trade in? will it help if i say that i,m not happy with the car to Ford?

Answer 1

If you financed it through Ford, then they will trade it in and offer you another vehicle.

Obviously you will lose that 4 months depreciation value, probably £2-3000 on a Fiesta. Then you will also have to top up the loan with the additional amount required to buy the new car.

They will not care you are not happy with it's consumption and will not trade free of charge as there is nothing wrong with the car apart form your dislike.

You will definitely lose more trading it in than you will lose on the petrol costs.

Answer 2

You can only trade it in if you settle the finance immediately - contact your lender for a settlement figure so you know exactly where you stand.

Answer 3

Ford could care less.  The only way the deal will work is if you owe less on the loan balance then the market value of the car.

In other words, if you still owe $12,000 and the car is worth $10,000.  Your going to lose $2000 trading in that car.  Not many people can afford to do that.

Answer 4

cars not officially yours until the finance has been settled on the car,

Answer 5

there is no time limit on when you can trade it in but you would lose a lot of money on it