Overhaulin'

if you buy your car rather than leasing it can you trade it in once you finish paying on it?

Buying a car vs. leasing a car

Public Comments

1. yes
2. Of course. If you buy a car, once it's paid for it's yours to do as you please. You can sell it, trade it, drive it off a cliff if you want to (but be prepared to pay a hefty fine if you chose the last option.) If you lease, you are renting miles. And if you go over the miles allowed, you pay extra for them. Once the lease ends you can return it for another lease, or buy it for what it's worth at the end of the lease.
3. You can trade it in before its paid for. Most likely you will not get as much for it as you owe (unless it's paid for), but they will tack the remainder onto the new car loan.
4. yes.. or you can get much more for it by selling it yourself.. or you can drive it many many more years, and not ever have to make a car payment again
5. You can trade it in whenever you want to. You can also sell it, even if you've not paid for it. You just have to pay it in full at that time and get the title released for whomever is taking it.
6. Sure. Once you've paid for it, it's your car to do with as you please. However, if you trade, the dealer will only give you wholesale value, or less. If you sell it yourself, you'll get more money, which you can use as a down payment on a new car.
7. YES, ITS YOURS AND YOU CAN DO WHATEVER YOU WANT.