Trade In Question
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TECH Fanatic
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From: Fort Worth, TX
Trade In Question Ok, im just curious on how this works so yea plz help if you can. So here is the deal I own a 2000 V6 that we got back in march for ummm 8,500 range and we took a loan to get it so we dont have the title at the time. Say I was to go to a dealer and try to trade it in? How does that work? Im asking because a local dealer here has a real nice 96 LT1 6speed with 89k on it. There selling it for 6,000 so I was wondering would a dealer except that kinda trade? Or how does that work cause I may try it if not on this one maybe another I find. Would be nice to upgrade from a V6.
Thanks for the help.
Thanks for the help.
Deranged Rat Fink
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From: Right here at my laptop, DUH!
You need to find out what the payoff is on your car loan . That will tell you if you owe too much to trade it. Call your bank and find that out first before anything else.
Staging Lane
Joined: May 2005
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From: Riverveiw, Fl
If you still owe over the price of the new car on your old car, it's called an upside down loan. If it gets approved, and, it can be a pain in the butt because if you keep trading up, you end up paying thousands in interest and payments and still don't own anything worth the money. And your payments usually end up thru the roof.
Like badjuju342 said , call on get a payoff on your car, balance your budget and then check with the dealer for a trade in value. Run it thru the lot and see if they will give you a price, but check it against Kelley Blue Book to make sure they are in the ball park. See what your interest rate will be and the amount of your payments for the length of time You want. Don't let the salesman tell you what you want to do, he doesn't pay your bills.
Like badjuju342 said , call on get a payoff on your car, balance your budget and then check with the dealer for a trade in value. Run it thru the lot and see if they will give you a price, but check it against Kelley Blue Book to make sure they are in the ball park. See what your interest rate will be and the amount of your payments for the length of time You want. Don't let the salesman tell you what you want to do, he doesn't pay your bills.
Thread Starter
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From: Fort Worth, TX
Thanks for the help, Ill have to have dad look into it for me since its all under his name. Im only 18 so i just pay him monthly insurance/payment and he handles the rest. I guess if he says we can try and it works out then we shall see. But again thanks for the help.
