Am I able to trade my car in for something better?

I have a 17 Nissan versa, when I first went to the dealership to get it they wanted to see three paystubs, i showed them. They painted out about 7 cars in the lot and said this is what I can afford. this was two years ago and I've tripled what I was making then is it possible to go back w the new paystubs & get an upgrade?

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  • 4 weeks ago

    Try to find a dealer other than Nissan. Their sales people are notorious for having odd conditions on selling new cars.

    A few years ago, I stopped by my local Nissan dealer, I was interested in buying a new Versa hatchback. At the time, I was doing a great deal of driving for work and the dually wasn't cutting fuel wise.

    The idiot salesman handed me paperwork and said I needed to get one of my parents to sign with me!!!!!!!!!

    I'm 60 friggin years old, I was 55 at that time, both my parents had been gone for many years.

    Say the least, I skipped that deal!

  • Anonymous
    1 month ago

    Why do you have NEED for a better car? Why not put a second car payment in a bank account  every month until you finish paying off your current car - then buy a better car with a huge down payment and low monthly payment  - doesn't make sense to remain car poor the money could actually be put away for an investment instead of and expense. 

    This how people improve their lot in life - slow gradual positive changes to your worth.

  • Jay P
    Lv 7
    1 month ago

    Is it possible?  Sure...

    One way to know for sure if it's possible for you is if you speak with the dealer.  But a heads-up if you still have an outstanding loan on the Versa...be aware you will likely be charged extra fees to get out of your existing loan, be low-balled on the trade-in value, and/or have little negotiation room on the purchase price for a new vehicle.

    Flipping new cars every few years is an expensive habit as cars depreciate the fastest when new ( it's not uncommon for a car to be worth only half of the original purchase price after 3 years ). 

  • Anonymous
    1 month ago

    Maybe, but we cannot tell you. We don't know if you have higher expenses and more debts than before, whether your credit is better or worse, whether you've changed jobs recently, and a few other things that determine your eligibility. We do know that to trade in your car, you've got to pay the current loan off. You may owe a lot more than it's worth as a trade-in, so you'll probably need to come up with most of the difference in cash because they won't roll much of that debt into a new loan, and you'll need a new down payment on top of that. If you aren't flush with cash, don't count on it.  

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  • 1 month ago

    What you can afford will depend on how much you still owe on the Nissan and what it is worth now as trade in.

    Please consider this- the two biggest costs in car ownership are interest and depreciation. At this point you have been paying mostly interest and very little has gone against the principle of the loan. This means very likely you owe more then the car is worth. The difference would have to be applied to the new loan and that means not being able to buy a much better car.

    At this point the two best options are:

    1. Accelerate the rate at which you are paying off the existing loan.

    2. Take the difference between the current payment price and increased earnings. Take some of that (if not all of it) and put it into a savings account. To be used to purchase a newer car or other expenses.

    The second choice to me is better. It allows more versatility in finances. The money can be for retirement, a down payment for a house or other expenses for which there is a need or a want.

  • 1 month ago

    How much do you currently owe on that car ?

    How much is it worth in trade in or for private sale ?

    Until you know both numbers, there is no way to guess.

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