i have a car to trade in. can i get half the value toward the new car and get some cash as well.anyone do this

Answer 1

Truthfully, you are better off selling your old car on your own. you'll get more money for it. For the dealer to re-sell your car at better profit he has to give you as little as possible for it. So he will give you as little as possible. By as little as possible I mean he or the dealership will apply that money towards the purchase of your new car. So it doesn't actually cost them. Not directly anyway.

Answer 2

Not sure if I understand you correctly. If you are saying you have an old car to trade in and want to use the half of the way you get from the old towards a new purchase, and the other half returned to you as cash. If so, the answer is yes. You can certainly do so. All you need to do is to let the dealer know what you want to do.

However, there are two possibilities. Possibility one: you own your current vehicle, meaning you don't pay a loan for it. In this case, then you can ask for 1/2 cash back and the other 1/2 towards purchases.

Possibility two: you owe money to a bank or credit union on a car loan. If that's the case, you may not able to get any cash back, and instead, you may have to pay the dealer to sell your car. Here's how it goes. Say you owe $10,000 on the car loan. Your car's current value per Kelly Blue Book is about $8000, and that's the price your dealer is willing to pay. Then, you have to pay the dealer the $2000 difference to sell your old car. The reason is the dealer is buying the car from your loan institution, who's holding the title of the car. Since they're willing to pay $8000, you need to fill in the rest of the loan amount to close the loan.

However, if your current loan amount is $10,000, and the dealer is willing to pay $15000, then you'll getting $5000 back by selling your old car. Then you can use 1/2 of it or $2500 towards a new purchase. And the other 1/2 will be returned to you via a check by the dealer.

Hope this helps.

Answer 3

Honestly, you should never trade in your car unless you are personally desperate to get rid of it.

Your best bet would be to find out its worth at the site below, and sell it through either AutoTrader.com or by posting it in your local news paper.

There is no reason to get less for you car by trading it in unless you are lazy and wouldn't mind paying a couple thousand more. Just put it up for sale, and go out and buy your other car. When you finally do sell your original car, then you will have money left over to either pay for your loans/leases or for other things.

Don't forget to choose the Best Answer!

-TORCH

Answer 4

If you own the car, or have equity, most dealers will allow you to use some of that towards the new vehicle and cut you a check for the remaining value of your car.

Answer 5

circumstances at the instant are not trouble-free. the vehicle you financed a year in the past became value-effective on the time, yet now your earnings has decreased, your expenditures have better---or the two. Paying that month-to-month vehicle notice now could be downright painful. you may choose to commerce on your experience on some thing low-value with a smaller month-to-month value. in spite of the indisputable fact that, you nonetheless owe a hefty sum on your modern-day vehicle. at the same time because it would desire to no longer be trouble-free, you are able to commerce your vehicle in for a greater least costly decision.

Answer 6

In most cases this is possible. However, you'll get more money in the end if you sell your car privately and use part of the proceeds for the down payment on the new one and pocket the difference.

Answer 7

sell it yourself....yoiu will come out ahead in the long run

Answer 8

Short answer: NO