Location: Daytona, FL
I am currently in the process of buying a new car. I am trading in my previous car for some money off but I am not the title holder of my previous car. The dealership has offer me $1500 for my car and for the trade in to go through, the person on the title needs to sign the paperwork. After hearing about only getting $1500 and seeing how much other places are willing to give the title holders for my previous car, they want to no longer allow me to trade it in and try and sell it to a family member.
I have already signed a bunch of paperwork and have the new car in my possession (with dealer plates while I got the papers signed & valid Florida insurance). Am I able to get out of trading in my previous car and just paying the $1500 they were going to give me off?
Comments
Depends on how much the dealership is making on that trade in. If it it multiple thousands, i.e. if you accepted a very lowball offer from them, they might refuse. Only thing you can do is ask the dealership if they will accept the money instead, or buy the old car at a fair price from the current title holder and then trade it in. Right now you are about to break the signed contract if you don’t deliver that old car to the dealership.