Hi Lesley in GTA, thanks for your kind comments, I don't fully understand what you're trying to say about trade being in an accident and you on the hook should you not be trading vehicle in same condition as time of appraisal, you're not on the hook for anything, the dealer however can refuse the trade and nullify the deal.

I appreciate your input as you have brought to light another side about trading a vehicle that I will add to website " being upside down "

Correct me if I am wrong, the vehicle you traded had a negative value factor that you did not want to pay, and the dealer added that amount to the selling price in order to get approval from a lender ?

This type of transaction is very common,a negative is the tax factor, in your case you paid 13% more in taxes on the added amount. also one must try to terminate the loan negative prior to next trade in, or will be upside down again big time.

however you did well as you entered a transaction being prepared with a bottom line number to work with, and got it, where as many consumers enter a dealership not being prepared and wake up the next morning and wondering what the hell happened looking at bill of sale, lol

I have added some facts related to the above question, you will find if you navigate to " whats my trade worth "