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.
You will get what they offer. You are always better off to sell your car at below retail and buy a car without a trade. The dealer will rarely give you more than wholesale for your trade in. Sell your car, and then go buy yourself a car. You have much more leverage when buying without a trade.
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.
Sure you can, but you will likely find you owe more than it's worth as a trade in.
absolutely, if the dealer is willing to do it. It is two separate transactions, you selling the dealer your car and you buying the dealers car. Whether your tade is worth more or less the the purchased car means nothing to the dealer. they are making a sale and intend to do it again with your trade, just for more money.
i THINK so if the other trader realy wants the other car in trade
No. Beware not to borrow more than the trade in value of the car you want to buy, and take no longer than 3 years to pay it off, or you will owe more than the car is worth. If the selling price is more than the trade-in value, Make that your down payment.
you can but its not always wise because you could end up buying the new car for more than what it is actually worth.
That is the true definition of totaled ...when the repair cost is more than the car is worth
Keep paying or trade and finance that amount onto your next car
You owe more on the car than the car is worth.
If you are trading in a vehicle in which money is still owed, the amount of money outstanding will be rolled over onto the new loan for the new car you are buying. If you owe $2500 on your current car, and are buying a car for $10,000, regardless if it is worth less than your current car, the $2500 note will be added onto the new loan unless you can pay it off beforehand.
When my present car will cost more to repair than it is worth.
If the job costs more than the car is worth, probably not. Get an opinion from more than one mechanic then decide.
Sure, but you will not get near what the new car is worth.
When the price for repairs cost more than the car is worth.
When it'd cost more to repair it than the car is worth.
Sure you can. You are probably not going to get near what it is worth but almost any car dealer will trade.
You'll get back the rest as money to use in your career ;) enjoy game
If you do not buy another car that is not trading one in, that is just selling your car to a dealer. You can always do that if you are desperate. You will get no where near what the car is worth. Normally less than wholesale is what you will get.
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
You can always get ripped off anytime you trade. Also you will not receive nearly as much as the car is worth and will pay more in the long run. Sell your car to a private party at somewhere between wholesale and retail. Find the value at www.nada.com By eliminating the trade you are in a much better position to purchase a vehicle at the lowest price possible. Dealers will not give you near what the car is worth. Usually less than wholesale. If at this time you are upside down on the loan, I would suggest you keep what you have or find someone to take over the payments.
Your car is considered totaled when it would cost more to fix it than it is worth. when your insurance company says it is or it cost more to fix than it's worth == When the repair costs exceed 50-75% (depending on what state youre in) of the actual cash value of the car.
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.