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Can you trade in your old car on which you owe 9000 for a cheaper car and payment?
Wiki User
∙ 18y ago
First of all stop trading. You can almost always sell your car for more than you will receive on a trade. Unless you are upside-down on the car you own, you can just sell it and pay off the loan and then buy a cheaper car. If you do owe more than it is worth, then see if the lender will allow you to sell the car and then borrow enough to pay off the balance of the loan with enough left over to buy a beater car that will get you from point A to point B. Without a trade-in you can bargain better and purchase a better car for less money. Drive that beater until you pay it off and save enough to buy a better car. You probably won't take this advice but I will give it anyway. Never ever borrow money to purchase a car, and never buy a new car. Save your money and pay cash for a 2-3 year old car that has depreciated considerably. Let someone else take a beating those first couple of years. Just think of all the money you save by not paying interest on a car loan.
Wiki User
∙ 18y ago
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What to do if you can't pay your car payment?
sell it or trade it in on something cheaper
You cannot afford your truck payment can you sell it 2 dealer and get cheaper car?
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
Trade in an expensive car for a cheaper car?
If you will trade an expensive car for a cheaper one, make sure that the cheaper car is in good condition and the trader of the expensive car should pay exact amount of money for the expensive car.
Can you trade in your new car that you still owe a lot on for a significantly cheaper car?
It is not a good idea to make such a trade. The dealer will offer you significantly less then you owe, and move the difference unto your cheaper car. The bank may not even want to finance your cheaper car because the collateral would not cover the entire loan balance. You may be able to get approved if you purchase GAP insurance when making the trade; however, there is no guarantee. Even if you can get approved, it would not be the best choice to do so. Imagine making a $500 payment on a car that over 5 years would have had a $300 payment. You could probably keep the more expensive car for the same $500 a month. Weigh the options. It is usually more expensive to trade the more expensive car for a cheaper one.
Can you trade in your expensive car which you own outright for a cheaper car and get money back?
You never get what a car is worth on a trade in. Get the blue book value of your car. Then, sell it outright and take the money to get a cheaper car.
Can you trade in your new car that you still owe on but have a lot of equity for a significantly cheaper car?
Yes, but your trade in value may or may not cover for the cheaper car so whatever you owe on your current loan will be tacked onto your future loan for the cheaper car you are speaking about.
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
You were late on your lease payment and your car was repode do you lose your trade in?
you defaulted, a contract is a contract and you have lost your trade in
How much is a car payment Chevy?
Depends on which Chevy you buy, what your pay for it, down payment or trade in, and how long you finance it for.
If you own your car can you work out a trade with the dealer and have no payment?
Yes, of course. But the dealer will only do a trade this way if your car is worth much more than the car he is selling to you.
What is the used car sales tax in Nashville Tennessee?
Zero, if you trade a more expensive car in and get a cheaper one
What are some incentives car dealers give you to trade in your car?
YOU HAVE TO HAVE A GOOD DOWN PAYMENT, IF YOUR CREDIT IS GOOD ENOUGH YOU DON'T HAVE TO PUT A DOWN PAYMENT,WARRENTY FOR 12 MONTHS, CASH BACK
