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Yes, basically the value is deducted off the list price or MSRP. Usually you get screwed and it is better to sell your car outright private party unless is is a heap or you know if to be a lemon. Then there is no value anyway. Best time to buy a new car, 2 or 3 days before the end of the month. Cut a deal and put down a deposit. Shop around for a better deal. Cut second deal and put down a deposit. Now wait till the last day of the month and play them off each other. They want that car to go that month and you now are shopping competatively
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∙ 18y ago
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Does trading in a car affect your credit?
Trading in a car does not affect your credit unless you sign a new car loan and get a new car. This may negatively or positively effect your credit.
Do you get tax credit on a trade for a used car?
is there a tax credit when trading in your used car when purchasing a new one
I purchased a new car and traded in your old car but the car was not on the lot They gave me a loaner until the new care comes in. I now regret trading in my car and signing the contract.Can I cancel?
Not leagally. Unless, somehow you suddenly become "unqualified". If your credit suddenly becomes messed up, and they run your credit again, they'll raise your APR, and then you can terminate the contract
What is the journal entry for trading a vehicle for another vehicle?
Debit new assetdebit loss (if any)debit accumulated depreciationCredit cash / bankcredit profit (if any)credit old car trade-in
Does buy a new car help get credit?
Only if you make every payment on time. If you mean paying cash for as new car, no that does not improve your credit score
What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
Who gets the credit when you have a cosigner on a new car?
Both
Would having good credit help in getting a great new car deal?
Yes, obtaining a deal on a new car is impacted by having good credit. Getting a bargain on a new car depends in part in many cases on obtaining excellent financing. Having good credit lowers the interest rate for new car purchases.
Can you trade a boat for a new car?
Of course, as long as the person trading with you agrees....
What is the difference between margin trading and credit given by stock brokers?
Credit given by stockbrokers IS margin trading.
If you buy a new car and decide you do not like if after a year what should you do?
trading in the car is probably your best option or you can sell it :)
If your car was totaled and the insurance company paid you for it do you get a credit for that on sales tax on your new car?
NO.
