Tuesday, October 13, 2009

Could You trade in car if your still making auto loan payments on that car?

Yes if the place you are trying to get a car at is willing to take it in for a trade and pay it off.



Could You trade in car if your still making auto loan payments on that car?

yes you sure can. the only drawback is most likely you will not get what you owe on your car. you will then tack on the amount of the vehicle you are wishing to purchase less the amount they give you for the trade



Could You trade in car if your still making auto loan payments on that car?

Yes you can, they will just put how ever much you have left to pay onto the total of the car and you would have to pay the difference.



Could You trade in car if your still making auto loan payments on that car?

Yes... BUT!



Many car lots will fold your current balance into the new loan. It is a great way to get into a newer vehicle. It is also a great way to be UPSIDE-DOWN on your loan right from the start, meaning you will likely always owe more than the vehicle is worth. Heaven help you if you trade into a lease and exceed the mileage. People often approach me looking for a cheap transportation car so they can garage their lease vehicle for a year while making payments, because of excess mileage... don't get into that situation!



Often you can do better selling it to a private party, than accepting what the dealer offers. Spend money making the vehicle LOOK clean, and it'll sell quicker and for more.



Look carefully at your numbers before trading a vehicle with a balance. Sometimes it makes sense, but a new vehicle depreciates like an ice sculpture as it is, without front-loading the financing with your last car on top of it all.



Could You trade in car if your still making auto loan payments on that car?

Yes, but in order to complete the new car transaction you must pay off the old loan in full. Either by the dealer offering you a trade in allowance or by you paying it off or a combination of both.



Could You trade in car if your still making auto loan payments on that car?

only if there going to pay it off and if the trade does paid it they will add the rest on to your new loan

No comments:

Post a Comment