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If you owe 2500 more than your car is worth and you trade it in for a car that is worth 2500 less than the new car what would you owe?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
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