0
Absolutely. The only issue will be how much equity you have in the car. In other words, if the car is worth $5,000 and you owe $4,000, you have $1,000 in equity. If the car is worth $5,000 and you owe $6,000, you have $1,000 in negative equity. Be sure to verify your pay-off amount before you begin to shop for a new car.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
If you trade in a car that you owe money on will you have to pay the previous car loan plus your new loan?
Yes. It is referred to as "upside down" financing.
How do you trade upside down car?
I recommend you not do this! This cost a lot in extra interest on your financing!In North America this is possible as long as only the financing is upside down. If the car is or has been upside down it is very difficult.The problem is you take on the finance rate.Go to a dealer, tell the truth about what you owe. They will organize up financing that pays off your old car and buys a new car.
What are the different ways of financing foreign trade?
The different ways of financing the foreign trade include cash in advance, the commercial letter of credit and working capital financing.
If you signed a contract to purchase a used car from a dealership and they have not told you who is financing the car after a week and didn't pay off the balance of your trade can you return the car?
If they do not know who the financing is then you havnt signed a finance agreement so in that case you should be able to return the car and get your trade back. sounds like to me they are shooping your loan to different lenders. Just make sure you didnt sign a finance agreement.
What is car financing?
car financing is basically when u get 10lac car at 2 lacs thry financial institutions
Where would one find the best van financing available?
There are many car companies currently offering low financing on vans. One can inquire with a local dealership for their financing options. As well one can finance vehicles through many other financial institutions.
Where can a person get tips on financing a car loan?
Car loan financing tips can be found form most dealers and banks. Generally car financing like any other financing depends largely on credit score and amount of down payment, if any.
Where can one apply for financing car loans?
There are many places where one can apply for financing car loans. One can apply for financing car loans at popular on the web sources such as Capital One and Bank Rate.
Does Chrysler offer financing on car purchases?
Chrysler does offer financing for new car purchases online. You can get more information on the financing available online at the official Chrysler website.
How long does a car dealership have to pay off the financing on a trade in?
I don't know but you might want to check out the following site: http://www.consumeraffairs.com/automotive/dealers_nv.html
How long does a dealer of a used car have to find you financing you have had a car for over 45 days and the dealer keeps saying they are searching for financing?
Why don't you go find your own financing. It is not his responsibility, it is yours. You are the one buying the car.
Can you trade your car which is worth about 4000 dollars but you currently owe 9000 dollars for a new 23000 dollar car?
The balance will be added to the price of the new car
