How To Return purchased BMW

egrizzly

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.

kyfdx

@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.