Best Answer

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

User Avatar

Wiki User

โˆ™ 2006-03-10 15:48:13
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: When trading in your car is it credit to your new car?
Write your answer...
Related questions

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

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

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

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?


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.

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?


What is the difference between margin trading and credit given by stock brokers?

Credit given by stockbrokers IS margin trading.

How do you get a new car with no down payment and bad credit?

Steal it.

What is a good method for establishing credit?

buying a new car

Can you trade a boat for a new car?

Of course, as long as the person trading with you agrees....

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 :)

What is your new car interest rate?

That depends on your credit rating and the lender you get the loan from. credit score 745

How much is the payment on a Nissan car?

depends on which car, used or new, what your credit is like etc.

Journal entry for new car purchase?

[Debit] Car Asset [Credit] Cash / bank

What are some companies that allow guaranteed credit approvals for new car loan?

Cars Direct website, Car Credit For Less website, they both offer guaranteed credit approvals for new car loans. One can also check with your local financial bank for better rates.

What is the time delay for new credit specifically a car loan or new mortgage to show on one's credit report?

Usually about 30 days.

What is the time limit on trading a new car for another new car?

There is no such thing as a time limit. When you buy a new car and drive it off the lot it instantly becomes a used car. Of course you can turn right around and trade it in on another new car in 60, 90, 120, etc days, but you will pay the difference in what this used car you are trading in is worth, and the new car sticker, which will be less that what you paid. I think you are really asking if there is a cooling off period on the purchase of an auto and the answer is no.

Where can you go to get a new car with no deposit?

Most new car dealers will offer a "sign and drive" program, depending on your credit rating.

How good does my credit need to be when purchasing a new car?

There are several options for people who don't have great credit scores when purchasing a new vehicle. This website tells you everything you need to know about how to buy a car when you have a bad credit score

What is a necessary credit score to purchase a new car?

10 score

When you are at the dealership what do you have to pay when you want a new car Ford Mustang EcoBoost?

When you buy a new car you will either pay in cash the full amount or get credit. If you get credit, you will only need to pay a down payment.

Can you get an easy bank loan for a new car?

Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.