You've all heard it a million times, trade your car and lower your payment!! Is it true? Yes & No. I've seen it go both ways, but it depends on a person by person. With Interest Rates low like they are, that defiantly helps, but you must not have bad credit. Many manufactures are offering low apr's to finance with them (and some give you an additional rebate!)
You cannot have any negative equity, or at least not much negative. Hopefully you'll have some equity in your vehicle or can put some cash down, but it's not required.
I had a gentleman yesterday trade out of his 2009 Sonata for a new 2013 Elantra with the preferred package and lower payment $107 dollars with $0 down and lower his rate almost 5 points. Not too bad and he has a brand new car that doesn't require new tires or a nice little list of service required. He walked in and saved money. Job well done!
What you have to do is look at similar vehicles. You can't go from a Sonata to a Genesis with the same payment, generally. If you're happy with the Sonata, look at a new one and check out the savings! Better gas mileage, full factory warranty and the thrill of a brand new car! It's a great option!
To view our inventory online, click here! You're welcome to email me here!
As always, Peace!
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