http://finance.yahoo.com
 
Rate Alert! Rate Alerts Glossary Glossary Help Help
 
  Bankate.com
 
News and Advice Compare Rates Calculators
 
 
- advertisement -
 
Columns: Driving for Dollars
Terry Jackson   Expert: Terry Jackson
Driving for Dollars
Should reader trade car after one month?
Driving for Dollars

Don't change cars like underwear
 

Dear Terry,
I just traded in my Chrysler 2004 Sebring due to possible transmission issues. I only had the car for one year. I traded it for a 2005 Ford Taurus. It was not my idea and I am not happy with my vehicle. It is a gas-guzzler. Is there anyway that I can trade this car in again after having it for just a month? Please help me!
-- Nyechi

- advertisement -

Dear Nyechi,
You can trade a car the day after you buy it, if you want, but you're going to pay a penalty because what may have been a one-owner used car is now a two-owner car and loses a bit of value as a result. I am curious about your contention that the Taurus is a gas-guzzler compared to the Sebring. According to Environmental Protection Agency figures, they should have similar fuel economy.

But most importantly, why would you buy a car that wasn't what you wanted? Every time you change vehicles it costs you money -- at the very least in sales tax and licensing fees, not to mention your time kicking tires, negotiating and standing in line for new tags. Do your homework on what kind of car you want and need before simply picking one with a neat color or settling on one someone else likes.

This week:
Credit card car financing possible but risky.
Don't change cars like underwear.
Bankrate.com's corrections policy -- Posted: May 12, 2007
Read more Driving for Dollars columns
Ask a question

Auto Loans
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
48 month new car loan 6.83%
60 month new car loan 6.85%
48 month used car loan 6.95%
ADVERTISING PARTNERS
RELATED CALCULATORS
  Auto loan calculator  
  A rebate or special dealer financing?  
  How much will the auto lease really cost?  
VIEW ALL  
- advertisement -
 
- advertisement -




News & Advice | Compare Rates | Calculators
Mortgage | Home Equity | Auto | Investing | Checking & Savings | Credit Cards | Debt Management | College Finance | Taxes | Personal Finance
About Bankrate | Privacy | Online Media Kit | Partnerships | Investor Relations | Press/Broadcast | Contact Us | Sitemap
NASDAQ: RATE | RSS Feeds | Order Rate Data | Bankrate Canada | Bankrate China

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2008 Bankrate, Inc., All Rights Reserved, Terms of Use.