This is tricky. If you trade in your car and get what you owe on it, it is likely you are paying more for your new vehicle (they always mark up the price to equal everything out). If they only give you what the vehicle is worth by blue book value, then they will give you a better deal on the new vehicle. If you want the best deal, then sell the car person-to-person and then buy yourself a new vehicle.
yes, even if you still owe money on your current car
yes you can trade it in. But if you owe more than what the dealer is going to give you for the car the remaining balance will be added to your new loan
Yes you can, but it depends on the dealership you trade it to...some of them will be willing to pay it off when they receive it as a trade.
If they have the letter of authority, yes.
The balance you owe on the car that is getting traded in will be added to your new car loan. Example You owe 10,000 for the car you want to trade in They give you 6,000 for trade in your new car costs 20,000 you will either have to pay that 4,000 or they will add it onto your new car loan from your car you traded in.
Yes you can trade your car in, but they are only going to give you what the blue book value is. Then the remainder of what you still owe, they will put it towards the new vehicle you get. I know this because I done it.
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.
Yes you can, but you have to owe less on the car than the trade in given. In other words if you owe 2,000 on the car and they give you three that means the loan on car 1 gets paid off and you have a 1,000 towards the price of car 2. But if you owed 5,000 on car 1 and they gave you 3,000 you would still have a balance due on car loan 1.
Yes, you can trade a car when you still owe money on it. The key is what is the difference between what you owe and what the car is worth. Dealers refer to this is being "upside down" in your trade. If the amount isn't too much, you should be able to roll it into your next loan. If it's a lot, you may have to come up with some cash. Find out what car dealers don't want you to know at www.dealertricks.com
Sell it privately for what you owe on it.
how do you find out if the owner still owe a finance company on the car you are buying?
Yes - you still owe for the dent.
You owe the difference in what the car sells for and the balance on the note.
Yes, but only up to the value that is not currently owed on your existing car. You are still responsible for making the payments - unless it is specifically written that the loan can be assumed by anyone.
My car is in the impound, i still owe 7,000.00 the impound put a lean. Will the finance Co. take me to collection?
Then you still owe the bank.
You can't really trade it without staying in the hole. You can go to a car lot with about 8000.00 dollars and trade it but if your buying a new car that's 12995.00 and you trade a car you owe 9995.00 on they will just add the amount you owe minus what they give you for the car, which is usually nothing and the rest will be put on your new loan. You will owe 3 times as much as you did. The only way to not have the car is to let it go back, but agin that's a repo... I recently had to do that and just bought a car for cash. No car note..that's the best thing. The repo will hurt your credit, but as far as getting another car, you can after about a year and a half.
not if you still owe money on it
Yes, the police can seize a car that you still owe money on. Though, they have to have a valid reason for doing so or if they have a court order.
Lets say your financing a brand new car. You owe $25,000 on it and when it gets reposessed you still owe $18,000. The reposession company will sell the car and that gets subtracted from what you owe. Lets say they sell it for $7,500. So they would subtract $7,500 from $18,000 which means when all is said and done, you still owe $11,500 on the car.
You still pay the car note and enjoy the lawn decoration
I believe you would owe the difference. If you owed 10,000 on the vehicle and it was repossessed and someone else bought it for 8,000 you would owe 2,000.
Don't do it. Buying a new car when you still owe on a current vehicle it very foolish. Pay the one you have off before even considering buying another car.