PaunchyPirate
Thinks s/he gets paid by the post
I'm considering doing a dealership trade on a new 2021 Toyota Highlander Hybrid Platinum model SUV. I currently have a decked out 2020 Ram 1500 Limited pickup truck. According to the Kelly Blue Book website, my truck could be valued in the $55,000 range. If that's the case, it could possibly mean that my truck is worth more than the new car I would be buying, which are in the $52,000 to $54,000 range.
Are there any gotchas I need to be aware of with a dealership on an upside down transaction such as this? Are dealerships even willing to do this? i.e. would they even consider writing ME a check as I drive off in the less valuable car? Just wondered if there were considerations that I had not yet considered.
I'm not interested in a discussion on who I should really sell my used RAM to. I'm aware it might fetch more on the private sale market. Nor am I looking for a lecture on trading in a one year old vehicle. Or a lecture on buying overpriced vehicles. I can deal with my own inner demons on these topics. Oh, I'm also well aware of the current shortage of new vehicles and the associated stress on prices it has resulted in.
Are there any gotchas I need to be aware of with a dealership on an upside down transaction such as this? Are dealerships even willing to do this? i.e. would they even consider writing ME a check as I drive off in the less valuable car? Just wondered if there were considerations that I had not yet considered.
I'm not interested in a discussion on who I should really sell my used RAM to. I'm aware it might fetch more on the private sale market. Nor am I looking for a lecture on trading in a one year old vehicle. Or a lecture on buying overpriced vehicles. I can deal with my own inner demons on these topics. Oh, I'm also well aware of the current shortage of new vehicles and the associated stress on prices it has resulted in.