Want this question answered?
If you trade-in a car that Not paid off, you will be trouble with the law.
No
Yes, you just add the payoff amount of the car you are trading to the price of the car you are buying.
Once you sign the release of liability at the dealership when you trade the car , the dealer is responsible for the pay off.
Only if you can afford payments for a new car and your used car is in very bad shape.
As long as you weren't a registered owner. If they trade the car in, then the trade should be paid off by the dealer where they bought the new car. This is actually good for you, since I'm assuming you didn't cosign the newest car loan. You're off the hook.
In order to trade in a car you must be the only owner listed on the certificate of title. If a creditor is listed on the title that creditor must be paid off from the proceeds from selling the car or from the new loan.
the example is that firstly i went to my university in a public transport now i went to my university in my personal car so thats my trade off
Pay the bill off and sell it or borrow enough on the new car to pay off the old car and finance then new one. My advice is to not consider trading until you pay off the car you now own. That way you will be in a much better financial condition to purchase another car.
One way or another, the loan has to be paid off. If you trade the car in, you can get the payoff added to the amount financed on the new car.
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
How do I get a title on a feema trailer thats paid off in full.