looking to trade in my truck but still owe money on it but will like to trade it in foran cheaper payment?

Answer 1

You can do that two different ways: trading to a lesser quality vehicle (trading down), or trading in on a new vehicle with a longer term...cheaper payment but you will be paying longer, and paying more interest as well. I guess it depends on what's more important to you...just lowering the payments, or lowering the payments yet incurring more debt.

Hope this helped.

Answer 2

Possible if you buy a cheaper truck than what your truck you are trying to trade cost. I did it-went from an 03 dakota quad cab to an 04 ranger xc and the payment went down $100/month.