Will a dealership buy my car if i have 17 thousand left on the finance?

Question

Hows it going, i have a 2004 lexus gs300 with only 30k miles on it and i want to get a new car. What i am wondering is if the dealership will buy my car from me even though have 17k left on the finance. My car is worth more then those 17 thousand would they give me money on top of it also? Thank you.

Answer 1

Some dealers will buy a car from you even if you don't trade your car in. I would NEVER recommend doing this to anyone. The dealer is out to make money, your goal is to not loose money. Unfortunately for you, you want to sell your car more than they want to buy it, that gives them the upper hand. I would be willing to bet that they would give you just enough money to pay off the loan, and maybe enough cash to buy yourself a hamburger.  I would be absolutely shocked if they give you what your car is worth.

Your best bet is to list your car on a place like Craigslist, or the local news paper and find someone who wants to buy your car. You will get more money out of your car this way, and they will pay less then they would had they gone to a dealership.

You will have to arrange a way to get your title from the bank to complete the sale. You can also recommend banks or credit unions to perspective buyers to help them finance your car.

Best of luck!

Answer 2

Maybe, depends on what you want to buy from them.

They determine the car's value after inspection, and will give you what they consider the wholesale (not retail) value.

Answer 3

Yes that's called TRAD-in

Dealers LOVE it when you want to trade it and buy another car.  When you mix the 3 thing (trade-in, buy, finance new car), they have so much room to scam you, you'll walkout with a smile not knowing exactly what happened.

Separate the 3 thing

(1) sell your car privately

(2) goto the bank / credit union and secure a loan

(3) go buy a car

then you know EXACTLY what happened to each part of the deal.

Good Luck...