Quote:
Originally Posted by gumpy
well you do lose a lot of money the minute you drive it out of the dealership...
thing of it this way, if there was a z with 1.5k miles on it in the car yard how much would you pay for it? Then take 2-3k off for the dealer margin...
If you love the 7AT just keep it...
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Its a little more complicated than just the 1500 miles depreciation. Because the title of the AT car actually changed ownership from dealer to him, his wanting to trade back the original AT car for the MT version is an entirely new purchase just like any other car purchase. This kind of "trade" activity isn't treated as just merely a swap...it is a "new" car purchase with the owner making a trade-in.
In addition to the depreciation that he would lose, one has to factor in how much he financed (
assuming he financed it) the original car purchase for .
If he took out a loan to finance his present AT car, he will have to put down an additional sum of money to cover the interest that had accumulated on on the loan so far against the principal amount paid for his purchase of the original car. The financial institution is going to want their interest paid to them that has accumulated for that period of time since he bought the original car.
In addition depending on the loan institution he took the original loan out with he may also have to pay a penalty for early payoff, the amount of which should be spelled out in the terms of the loan contract.
And finally, if the original loan institution want to be pricks about it they can ding his credit record for the early payoff despite the fact that the bank would get the acccumulated interest from him.