Trading in a vehicle is a stressful transaction. Between haggling on the trade value and an out-the-door price for a new vehicle, buyers are often left in the dark while negotiating. Despite this, it is possible to trade two cars in for a single new or used vehicle.
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Trading two vehicles for one can be difficult if both have remaining balances that are less than the trade value. This may require financing more negative equity than a bank will accept. If one vehicle has a balance and the other does not, the equity could balance out.
Car dealerships try to buy used cars for their wholesale value. The wholesale value is equivalent to the amount a dealership would pay for a car or truck at auction. This amount is less than the trade-in value information available online.
When you arrive at the dealership to trade both vehicles, make sure that you have the titles. If liens have been released, make sure you have letters supporting this from each lender.
While a 2-for-1 transaction is odd, all dealerships will be willing to complete such a sale. Just make sure that the dealership pays off any remaining balances--and get this commitment in writing.
Although trading two vehicles for one seems like an odd request, it makes sense if your family is downsizing from multiple vehicles. Just make sure to negotiate and get the best overall deal possible.
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