Can you use your car as a trade to buy another car even if your name is not on the loan or bill of sale from the dealership?
Sure. the dealer can accept anything he feels has value toward the payment....cars, boats, art, etc.,...even work.
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Would a used car dealership sell you another used vehicle when the car you were recently buying from them was totaled in a car accident and you did not have insurance on the car?
\n. \n Answer \n. \n. \nSo long as you don't still owe money on the first car, I expect they would.\n. \n. \n. \nI believe if you paid off the wrecked car, they may …sell you another. They may require you get insurance before it leaves the lot.
Can you use a car as a trade in for your new car if the trade in is titled to your daughter and has an out standing loan signed by another person and your daughter agrees to the trade in?
Answer . your daughter would have to sign the release documents for her car.. As for the loan, whoever signed the loan would still have to pay the loan, regardless. The l…oan doesn't go away.. If you do consider this, make sure there aren't any liens or any other claims to that car, through the bank or other institution.
Is it possible to trade in a car and buy a new one even if you are still paying off a loan for the original car?
Answer . \nYes. You have to make certain the dealership you're working with for the purchase of the new car is covering the entire amount owed on the old car. Also, whoe…ver is doing your financing should give you a check made out to you and the lienholder of the old car so that loan can be paid off. If you do not do this, it is possible for the bank of the old car to come back to you and sue you for the loan balance. Keep copies of everything in a safe place. sunnyraye
Answer . yes, they buy out the loan, and if the vehicle is not worth what is owed the balance can be added to the amount being finaced on the new one
Answer . At the end of each month, especially the last day of the month, salesmen will pull out all the stops to make that last sale. . On a broader level, toward the end… of the current model year, September - November, dealers want to clean out inventory to provide space for their new vehicles. They will also advertise their lowest prices at this time. Just be aware that your new car will become a year old immediately when the new models are available, and loose blue book value as well .
Answer . I actually sell cars and that is totally classified!!! Kidding. The average used car will gross between $1000 and $1500 which to be honest barely covers the bills…. That would give a salesperson 100 to 200 dollars in his paycheck. I have seen dealers take a loss for a car when trying to move it. Yes... that happens. And I have seen one dealer make as much as $9000 on one car. That is extremely rare and wrong but i saw it. The salesperson made 1700 on that on car.
\nI believe the sales tax is the same if you buy from a dealership or from an individual - $6.25%.
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Depending on which state you live in, you may be required to use a state approved bill of sale form. The state approved bill of sale forms typically require information such a…s: the seller's and buyer's name and address; the car's vin number, make, model, body type & year; odometer reading; and sale price. Some of these state approved bill of sale forms also require the seller's and buyer's signatures be notarized. Other states have moved this information to the title for you to complete when you sell the car and no longer require a state approved bill of sale form.
No, you would need to register it. The dealership simply "signs off".
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As with any sales business, the car dealer must collect the sales tax.
In Car Buying
You do have a grace period, if it is agreed upon by you and the seller, to return the purchased auto if you are not happy. At least that has been my experience in my own purch…ases. I have never immediately traded "it" in for another.. I am sure, should you find a willing salesperson, such a transaction may take place.. "Money talks and Suckers walk."
Why would a car dealership not have the title for the used car you purchased and does a Bill of Sale take the place of a title proving new ownership?
because most car dealers buy from auctions that give them a floor plan in other words they hold the title and give them a credit so that they can take the car on their lot and… sell it and once it is sold they have to go pay off the floor plan to receive the title so that they may register it in your name. There is usually a time limit for them to do it before they are charged penalties.
According to Kentucky's Attorney General, you have no right to cancel the purchase of a used car in Kentucky. One trick to get around this is to cause your loan not to be fund…ed by the bank or credit union - this does not work if you got the financing from the dealer. Our credit union often advised people to write 'subject to financing by the xyz credit union' on the sales contract. Then, if they wanted to cancel the sale, they could tell the credit union to reject the application. A little falsehood might get you off the hook, or not. Call the dealer and tell them you are about to be fired from your job. That will generally cause them to cancel the loan but good luck getting the deposit back.
Every Province, Territory and State has different laws governing the sales of used vehicles. You would need to be more specific in your question and specify the area where you… are looking.