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How To Return purchased BMW

egrizzlyegrizzly Member Posts: 1
edited April 2014 in BMW

purchased a 2006 BMW 325i from a dealer and would like to know how to return it so I can use that $$ to get a more price-friendly car. Currently paying $226 per month for it. Is there some type of "loan swap" somebody can do? The BMW costs 12,000 and I would like to find a car that costs like $6500 or something and swap out the loans so that I'm paying for the $6500 car in the end. thanks.

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    kyfdxkyfdx Moderator Posts: 243,140

    @egrizzly said:
    purchased a 2006 BMW 325i from a dealer and would like to know how to return it so I can use that $$ to get a more price-friendly car. Currently paying $226 per month for it. Is there some type of "loan swap" somebody can do? The BMW costs 12,000 and I would like to find a car that costs like $6500 or something and swap out the loans so that I'm paying for the $6500 car in the end. thanks.

    You can always trade your car in for a cheaper car. But, they don't swap loans. Your old loan will be paid off with the proceeds from your trade-in, with the new loan covering what you now owe. If you've recently purchased that BMW, you'll probably get a lot less than you paid for it, on a trade-in.

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