We passed the seven figure net-worth mark early last year. To celebrate, I traded in a nine-year-old Saturn for a high-end luxury car. Wanted to see what the experience would be like, always with an eye towards a temporary arrangement. I tried to get a short-term (2-3 year) lease, but the mileage restrictions were too onerous.
So instead I decided to buy the car outright in cash and just trade down when I got tired of it. It's fun to drive and very striking, but I think I'm done with it and would rather have a more practical car. Blue Book Value for trade in is $59-62K. I’d like to trade it in for a small SUV or minivan (spending no more than $20K) and get a check for the remainder.
Has anyone traded down and received a check from the dealer before? Any help / tips would be appreciated.