Tips on Buying Cars: just purchased a car - too soon to trade in?, new corolla, kelly blue book

Question
I just purchased (financed) a certified pre owned camry about 3 months ago.  It started out fine but I am already having problems that the technicians can't seem to diagnose.  I don't want to have to worry about my warranty wearing out before they figure out what's wrong.  I am also just not happy with the way the car sounds or drives after trying to get used to it for awhile.  I'm now regretting going with pre-owned and would much rather have a new Corolla for the price I paid for this used Camry (I overpaid to begin with).  Can I take it back to "trade it in" for a Corolla even though I just bought it a couple of months ago?  What kind of trade-in value can I expect for it?  It's a 2005 Camry LE that came with 19,000 miles and now has a little over 21,000.

Answer
You must have gotten a rotten apple of a camry - as I have heard a lot of good things about these cars. As for the trade in - you will probably not get nearly what you want for it... A lightly used pre-owned car is generally better than a new car (the first 10-15k miles are actually the most expensive). But I see where you are coming from... hmmm.. This is actually a tough call.. how long is your warranty? I would see if the dealer would let you trade straight across for a different car... maybe another camry or a corolla... any large dealer would probably want you to be happy... for their reputations sake... and selling lemons is bad for your reputation. You could try talking to a manager and explaining your situation (a manager.. not a salesman...)... If you are dead set on the corolla.. you can try selling or trading it in (a quick visit to the dealer would give you their trade-in offer) - and a quick visit to kelly blue book (kbb.com) will give you an idea of what you can sell it for (it can depend a lot on your different options you have on the car)... If the value is equal or close to the price of a new corolla.. have at... if you financed through the dealer they should do it all for you. Just be careful - you don't want to be WAY upside down on your new corolla (meaning owe way more than its worth) - and you will if you can't get enough for your camry to pay for the corolla.

Don't let one bad experience make you always avoid pre-owned .. you lose a lot less money buying used... the depreciation hit on new cars these days is a lot of money.

I would see what you can get for your camry.. and talk to a manager about perhaps getting you into a different car for the same price as your camry... explain the situation.. about how you've already started having issues only 3 months after purchase... you feel you bought a lemon.. the warranty is paying to fix it.. they might be willing to get you into a better vehicle without costing you any money..

If this doesn't work.. look into either purchasing a different pre-owned or buying that new corolla. Just keep in mind if you can't sell the camry for what you owe on it.. you will be WAY upside down on that corolla. You may need to talk to your lender if it's not the dealership... but transferring the loan or consolidating it into a new one shouldn't be a problem (the dealership can help you with this). Just be careful - they will probably try to get you into a more expensive car... more expensive does not always mean it will be any more reliable...