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Is there a way to trade in your car if your upside down on car loan and you have very very bad credit?
Yes you can, if you have a current loan about let say 10,000 and your car is only worth 5000, the next bad credit loan provider will have to bury 5000 in negative equity. It is possible with a bad credit loan provider, it maybe at a higher interest but you don't have a choice at that moment. If you are located in Canada you can try this resource at http://www.autocreditfinancial.ca good luck.
What else can I help you with?
Can you trade a car that's upside down?
As long as we are talking about the loan being upside down, not the car:Yes you can trade it,BUTIt is not recommended as you will pay a large penalty in extra interest.
If you trade in a car that you owe money on will you have to pay the previous car loan plus your new loan?
Yes. It is referred to as "upside down" financing.
When upside down in a car loan how much more do you pay on a trade in?
If you are upside down with your car loan, meaning you owe more on it than what it is worth, you will need to pay the deficiency. That means if you owe $11,000 on your car and it is worth $9,500, then you will need to come up with $1,500 to erase the deficiency.Keep in mind that this may only be the first step. You may also need to come up with a down payment on top of paying the loan deficiency. If you do not put money down and are still approved for a car loan, then you will find yourself upside down with your new car.
Can you trade your car with an upside loan?
Yes, but it makes your financial situation worse to do that.
If you are current on payments and leave a car at the dealer because you are way upside down does it hurt your credit?
Usually, your CR isn't great before you take an "upside down" loan. But, YES, it hurts your CR. A repo ia a repo is a repo on any CR.
How do you spell upside down?
Main Entry: backward Part of Speech: adverb Definition: Toward the back. Synonyms: about, around, back, rearwardMain Entry: back Part of Speech: adverb Definition: In or toward a former location or condition. Synonyms: about, around, backward, rearward, round If you mean going backwards like a car, "reverse" is the word you are looking for.
Can you use a car loan as a down payment on a car?
ya of curse you can use the upside down car loan for buying a new car...
Can you trade your vehicle in if you have a loan for it through a credit union?
YES
Are you responsible for the difference of equity on an upside down mortgage?
Yes, you are responsible for the loan amount (you signed the papers for the loan)
Can you buy a car if you are 12000 upside down with your trade in?
You can but the amount(12,000) will be added to the new car loan. If you were to sell your car that you have now and pay it off, you would be better off.
How does trading in a car affect your credit?
Trading in a car can affect your credit in both positive and negative ways. When you trade in a car and get a new loan, it can impact your credit score based on factors like the new loan amount, your payment history, and the length of the loan. If you make timely payments on the new loan, it can help improve your credit score. However, if you have negative equity on the trade-in or miss payments on the new loan, it can hurt your credit score.
Is there a way to sell a motorcycle when you are upside down in a loan with it and not owe the balance?
if the loan is through the bank then have the person who is buying pay off the rest of the loan.
