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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.

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โˆ™ 2005-11-27 16:18:23
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Q: Can you trade in your old car on which you owe 9000 for a cheaper car and payment?
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Related questions

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 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 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 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


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.


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.


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


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


What is a car down payment?

A car down payment is the amount of money or the trade-in value of your current car required by your lender before a loan is issued. For example, if your new car costs $20,000 and your lender requires 10 percent down, you need to come up with at least $2,000 in cash or trade-in value before the loan can be initiated.


Can you trade in a used car for a cheaper vehicle in order to lower your monthly payments?

yes you can. yes you can. yes you can.


What can you do if you cant make your car payment and any future payments?

what can you do when you cant make a car payment what can you do when you cant make a car payment


Car loan and the payment is too high can you keep your loan but get a cheaper car?

That would depend on how much you owe on this car. You need to contact the lender and see what can be worked out. Do not allow this car to be repossed. That would compound and already bad situation.


2 find a car dealership willing 2 take your trade in as a down payment and b able to make monthly payments for the remainder of car?

yes and no


Where can I calculate a car payment online?

You can visit pnc.com for your help on calculate a car payment. I hope this helps you find the right car and the right car payment for you. They have the tools to help you.


What will people do with the old car if they want to buy a new car?

They can sell it on their own, or they can trade it into the dealer toward a down payment.


A 9000 kg railroad car moving at 3 ms strikes a stationary 5000 kg railroad car What is the kinetic energy of the 9000 kg railroad car before the collision?

40500J


How far do you have to be behind on a car payment before your car is repo?

2 payment


Should you make your car payment this month if your going to trade it in for a new car at the end of the month?

Sure. It will lower the pay-off the dealer ia going to charge you when you buy the next car.


What is the average monthly car payment?

the average car payment is about 200$ which this stayment is not made based on the car types.


Who gets car and car payment in divorce?

That is up to the lawyers, and the judge. One could get the car, and the other get the payment.....


Would it be cheaper to buy a new car in ME or FL?

it would be cheaper to bye a car in FL.

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