Originally Posted by grsti90
Hello, I am located in Canada and would like to ask everyone a question regarding a trade in.
I financed a 2013 Mercedes C300 4matic with sports/bi-xenon package less than 3 weeks ago putting down $17,000 and monthly payment of $520 for 60 months at 0%. If you do the math, that is actually lower than the normal price of the car as I got a pretty good deal on it. The value of the car here is $48,000+tax.
The value of a 2013 STI Sedan with tech package is $43,000 + tax and the website says there is a 4.9% finance for 60 months which I think the dealer will have no problem making it 0 or close to it.
The question is..what is the approach I should be taking on this? Ask for the difference back in the downpayment? or a smaller monthly payment? I knew I should have chosen the STI to begin with (missing the manual and performance of my s2000 already).
Thanks for the help!
May I ask why you put $17k down if you had 0 (or any other low interest rate) APR? That might have been sillier than trying to now trade it on on an STi. In any case, you'd be lucky to get them to take a straight trade, I think.
You're going to take a bath.
IMHO, keep the car, buy a cheap, used Miata, WRX, S2000, etc. (shouldn't cost much more than the bath you're going to take) to get your manual fix.