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How do you trade in your car when you are still paying the loan for the car?
Wiki User
∙ 17y ago
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.
Wiki User
∙ 17y ago
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Can I trade in my car when there is a loan balance?
You can trade your car in, however the loan balance must still be satisfied.
What should you do when the lien holder sent you a clear title and you still owe on the vehicle?
Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.
Do dealerships accept a trade in that has a title loan?
Yes, they will and they will add that to what you are paying for the new car
What happens when your loan is not paid off and you still have the car?
You can still have it ,but you will be paying heavily for it and have no resale value for it.
Can you trade in your car if you still owe on the auto loan?
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
Are you able to trade-in your vehicle even if you are still paying it off?
Yes. The balance owed will be added to the loan amount of the car you are purchasing. Be careful. This is a credit trap that will be hard to get out of, as you will have a huge loan that will be there when the car you bought is worn out. The above is absolutely correct. Remember that you will still be making payments (indirectly) on a car you no longer own or drive. Best to have the trade in 'free and clear' before even considering upgrading to another.
Can you sell a car in one state when it is still registered in another and you have a loan you are still paying off?
No, you can not sell a car that doesn't belong to you and that you don't have a title to. If you are still paying for a car, the leinholder will have the title. The car won't be yours until you pay for the car in full and the leinholder signs off on the title and gives it to you.
How can you get rid of a your car when you still have payments?
Sell it or trade it in. Then take the proceeds to pay off the loan.
What are the best ways to rebuild your credit after your car was repossessed?
Paying off what still owed on the loan is a GREAT start.
What if you pay 95 percent of your car loan and you stop paying Can it be repo?
Yes! Even if you've payed 99.999999...% your car will still be reposessed.
Can you keep paying your car loan after its due?
no
Can you pay a car loan off early?
If your loan is fixed, you could pay your loan off early but you would not benefit from it because you would still be paying the same amount. And there are some loans that you will be penalized for paying off early. Please check the terms of your loan.
