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Can you trade a car in for a newer car if you filed a chapther 13?
Wiki User
∙ 15y ago
no. you cant buy anything with credit for like 7 yrs or something. good luck. buy local not from dealerships
Wiki User
∙ 15y ago
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How can one exchange their car for a newer model?
If you are looking to exchange your car for a newer model, you can do a trade in once you find the vehicle you wish to purchase, or you can sell your old car first, and then purchase a new one from a car dealership.
If you recently bought a used car and want to trade it in along with another used car for a newer car has this been done before?
yes.
Can you trade in your used vehicle that you bought 4 months ago for a newer one and if so does the dealer pay off the prior vehicle and still give you a trade in value?
NO. He will give you the difference in the pay off on the trade in and the trade in value. Stop right where you are. Sell the vehicle yourself and pay off the loan. Then go buy another car without a trade in. The price of the car will drop as soon as you tell them you have no trade in. You will be money ahead. Trade in value is basically wholesale value. You can sell the car for far more than that yourself.
If you recently bought a car and want to trade for newer car but still owe the bank is the transaction handled?
Answer If you trade this vehicle in on a new car the dealership would pay off the loan on the trade and if there is a difference in how much you owe and how much they give you for the trade they will add that to your new car price.Answer One problem with this arrangement is banks and lenders have become more conservative about loaning money recently.When you purchase a car, particularly a new car, the value depreciates as soon as you drive it off the lot. This may leave you in the situation where you owe more on the car than the car is worth. Your lender may not allow you to trade immediately unless you can pay a significant amount down on the newer car, because the amount owed beyond the value of the trade-in the depreciation of the newer vehicle may be too high and would create a greater risk to the bank.For example: You could buy a car for $20,000, put $2,000 down, and finance the other $18,000. But when you take delivery on the car, its resale value may drop to $16,000. That means you would owe $2,000 more to the bank than the car is worth.Suppose you take that car and get $16,000 in trade on a $30,000 vehicle. The bank would have to finance the new car for $32,000 to make up the difference between your $18,000 loan and your $16,000 trade in. Then, when you take delivery on the newer car, it depreciates to $27,000.You would then have a car valued at $27,000, but a loan for $32,000, which is $5,000 more than the new car is worth (because of the two transactions). Many banks and finance companies would refuse to take that kind of risk.Be prepared to make up the difference in cash, or hang onto the original car until you're no longer "upside-down" in your loan. (These are all hypothetical numbers)
Is a 2008 car new?
its newer than a 2007 car
Can someone get their car back thatwas used for trade if they don't take them proof of income?
If you have made the deal, signed the contract, traded in your car, and taken possession of the newer car then the deal is done and cannot be undone unless both parties agree.
Which is newer the car or the motorcycle?
The Car is newer than the motorcycle, the car was first invented in 1896. The first Motorcycle was invented in 1867. Both were steam-powered at the time.
What is a Late model car?
A late model is a newer car ( as of late ).
can i get a grant to buy a newer car?
Can i get a grant for to buy a house or car
Will a car dealer sell a car if there is no title on the trade in car?
They will not take the no title car on trade.
Can you trade your car in for leased car?
You can trade the cars all in for what you want. Trade for what is on the market
Do you have to buy a new car to trade in a used car?
No, you can trade a used car for another used car
