Trade-in at dealership question...

[Screw]

When trading / selling a vehicle to a dealership is it normal for there to be a lag in payment ? Drop off car , I’ll cut you a cheque next week ?
Part of transaction is taking delivery of one of their new vehicles prior to receiving payment for trade-in (next week) .
Not sure if I’m making sense thinking out loud...basically if I’m expected to deliver my vehicle I would expect to be paid at that time .

[ZR]

Are you trading it in or selling to a dealer?
If trading in, normally dropped off when picking up new ride. No payment made to you (unless your not putting full equity of trade vehicle towards new one).
If selling to a dealer, yes I'd expect a check when I drop it off.

[Screw]

Yes not putting equity of vehicle into new one .

[ZR]

I would expect a check to be waiting when I dropped it off unless it's someone I have an established working relationship with.

[Screw]

I would expect a check to be waiting when I dropped it off unless it's someone I have an established working relationship with.

Thanks I feel same way , not sure what common practice is .

[ZR]

I'd treat it the same as when you've done a job for someone, expect to be paid. I'm sure whatever you owe when the new one is picked up will be due before you take possession of it.

[Ponyryd]

Paid on delivery is the norm, if trading in, the value of the trade is taken off the cost of the new vehicle, in which case you also save a lot of taxes since you pay tax on what you pay for the car (after trade)

[True Blue]

More importantly, what's the new vehicle? :)

[Screw]

More importantly, what's the new vehicle? :)

Nothing on my end