Yes, but your trade in value may or may not cover for the cheaper car so whatever you owe on your current loan will be tacked onto your future loan for the cheaper car you are speaking about.
No.It has to be the same brand.
Equity - trade union - was created in 1930.
It is not a good idea to make such a trade. The dealer will offer you significantly less then you owe, and move the difference unto your cheaper car. The bank may not even want to finance your cheaper car because the collateral would not cover the entire loan balance. You may be able to get approved if you purchase GAP insurance when making the trade; however, there is no guarantee. Even if you can get approved, it would not be the best choice to do so. Imagine making a $500 payment on a car that over 5 years would have had a $300 payment. You could probably keep the more expensive car for the same $500 a month. Weigh the options. It is usually more expensive to trade the more expensive car for a cheaper one.
of course not
to decide if its goood
test
If you will trade an expensive car for a cheaper one, make sure that the cheaper car is in good condition and the trader of the expensive car should pay exact amount of money for the expensive car.
Trade equity and rebates are both forms of "cap cost reduction". The initial capitalized cost (cap cost) would be the selling price of the vehicle. You can add to the cap cost with things such as acquisition fees. You can reduce the cap cost with things like downpayment, rebates and trade equity.
leasing is more beneficial.
yes people still trade you may even still have grandparents that trade
Mine... $304 a month. Take a piece of junk trade in and get a $3500.00 trade in while the cash for clunkers is still going on and get it even cheaper. Thanks, Wes
sell it or trade it in on something cheaper