My husband and I bought a brand new Honda van at the end of October 2009. We are now re-examining our budget and trying to allow for me to be a stay-at-home mom. Is it possible to trade in a newish car that has a lien on it? I am looking to buy either a certified used Honda or a sedan in the hopes of keeping the reliability but lowering the monthly payment of over $400/month. Thanks in advance for the help.
Like the first person said, don’t expect to get the exact amount you paid for it when new. You lost at least $3-5 thousand when you drove it off the lot. It’s not impossible, but I don’t think it will be worth it. You most likely still won’t have any left over money.