Can we trade in a just bought used car?

We just bought a used car 7 days ago. We didn't think we would get approved for a loan, and when we (my husband and I) did we jumped too soon. Our loan was for 6000 +1800 warranty + dealer fees. We put 1500 down. We have not made any payments on the car yet. The car we purchased is right in line with KBB pricing. We want to trade it in on monday for a car that makes more sense for us (more practical for winters, as the one we just bought is a stupid little hatchback) the car we want is listed for 6400. We only have another 500 we can put towards all this crap we have caused ourselves. We just want out of this car! Is this possible at all?



Our current car is a 2005 suzuki reno hatchback s, and the car we want is a 2003 pontiac grand am 4 door gt



If we drop the warranty on our current car, can we trade it in for the new car? The dealership we bought from is family owned, and they said they would give us the best trade in value they could.



We made a terrible rash mistake, please help! We really hate this car, and made a terrible mistake!!!Can we trade in a just bought used car?
you can trade it in but you will lost a ton of money
You set yourself up allright. $1800 for a warranty? Between that and the fact nobody pays KBB or any other "book" price, you paid way too much. Now you want to trade it and take another beating. By the way....check the reviews on the Pontiac. They aren't that great and the brand is now out of production. Keep the Suzuki for a while (after you drop the warranty) and then trade it off. And next time....THINK before you act.Can we trade in a just bought used car?
Yes, you CAN trade it but it will be VERY costly. They will only give you wholesale for your car but you will pay retail for whatever you buy.



Plus the title %26amp; paperwork fees will be lost.



You MAY be able to drop the warranty and you probably should because they are a huge waste of money. (Many don't pay for repairs you think are covered)



Bottom line, you are going to lose $1500-2500 by trading.



No dealer works for free.
Yes you can but most likely the dealer will want to make money off it. Also most extended warranties have a 30 day cancellation period. Read your paperwork.Can we trade in a just bought used car?
You'll probably have to live with this car, since your trade-in value will probably be about $3000 for that Suzuki and your math will tell you that $3000 + $500 does not = $6400, which is about $3000 more than the Pontiac really costs, but would only get laughed at by the dealer if you offered that much for it...



But, you should drop the warranty anyway. If those warranties weren't such garbage, that would be one thing, but evidently people do not use them too much, sine these warranties are known to be pure profit for a dealer for the most part.
Ask the dealer if they can transfer the loan to the other car and return it