QuestionQUESTION: I have a 2006 Matrix XRS.
Though i've found interest in another vehicle. I bought it for 21k but only owe 16k. And being a rare model, trade in value is around 17-18k as the reasale is still 20k. Now how would that work trading in?
Do i get something of equal value to what i owe, or what the car is worth? Which would put me ahead / behind.
Thanks for the time.
ANSWER: It all depends on what you're trying to accomplish. What is it about the Matrix you don't like, or you're trying to upgrade? If the trade-in value you mentioned is truly what it's worth, then you should get that regardless of what you trade it for. I'd be curious on two things: why do you want to trade it, and where did you derive that trade-in value from?
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QUESTION: I initially got the XRS because of it's the 'sportier' engine of the Matrix models and has a lot of potential as far as engine build and such. But overall the car just weighs too much and bigger than i need.
I'm planning on trading for a '03 or '04 MR2 Spyder, which retail matches my trade in value. I got the estimate from my local toyota dealer. The car was a show car, paint is mint and frequently waxed and polished. Interior is flawless. And it only has 10k on it. Spyder's a downstep from an '06. But it's a Toyota, i can make it last forever! Plus i can swap a 2ZZ motor in it. Same that's in the XRS and GT-S, and as light as the Spyder is, it'll be an incredible car.
Does the trade value i got sound off to you? Is it just another dealership trying to pull off my leg?
AnswerImpossible for me to say, because I can't see the Spyder, and I'm not familiar with the market you're in. Check as many sites as you can for value, such as Edmunds, which is the most accurate. Kelley Blue Book and NADA numbers tend to be high retail, "asking" figures, as where Edmunds is based on actual transaction (final selling) prices.
