I am looking to trade in my car but I have a title loan on it.. will they accept my car?
2007-03-09 18:09:58 · 8 answers · asked by Know what I mean? 1 in Cars & Transportation ➔ Buying & Selling
depends on how much the lien is, and is the car you are trading greater than the lien?
2007-03-09 18:13:18 · answer #1 · answered by ffperki 6 · 0⤊ 0⤋
If your trade in is worth more than the loan, it will decrease your new car loan. If your trade is worth less than what you owe on it, it will add to the amount you are borrowing to purchase the new vehicle. Pretty simple math. If your old vehicle is in decent condition, the dealership will probably accept it. If it is really old and beat up, they may not want to take it. It all depends on how much they want the sale of a new car. Before I would go to a dealership, I would check out Kelly Blue book on the web and see what the trade is worth. And educated buyer is the best buyer. Know what you have, what is may be worth, or at least some idea, then go shopping.
2007-03-10 02:42:15 · answer #2 · answered by just me 6 · 0⤊ 0⤋
You can take your car in and see what they are willing to give you for it. If the car is worth more then the loan, then you will get that price off the new car. So, that would go to pay off the car loan and some. But this is usually NEVER the case. You can take your car and if you have good credit can get another car. But, the LOAN will be transferred to the bottom line of the next car you purchase. You will probably be losing out on the trade it. To be more specific about your situation I would need to know what kind of car you want to trade in and how much you owe, plus what you want to get. But basically, you can do that, but you will lose the car to the dealer, plus you will still have to pay the loan. try selling your used car for what you owe on the car.
2007-03-09 18:21:20 · answer #3 · answered by Melanie P 3 · 0⤊ 0⤋
I just traded my car in for a new one and owed about 6000 on it what they did is checked blue book bought the car for 4550 and took the remaining 1450 and put it towards my new loan so my old loan is paid off and now I start fresh
New car was 21560 and loan is around 24000 after tax title and license
2007-03-10 01:51:52 · answer #4 · answered by Casey D 2 · 1⤊ 0⤋
Some will but your best bet is to pay off the title loan first.
2007-03-09 19:50:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sounds fishy... yet once you hand somebody a *signed* identify of possession, you're in result giving them your motor vehicle. happy which you probably did no longer sign, yet this continues to be no longer secure... different than for them no longer giving you the money for the commerce, they might nevertheless artwork w/DMV to circulate possession and so on... possibly by way of a lien. Please be direct with them, you want your money... the dealership owes you, and who's to assert what the story is going to be in 25 days?
2016-09-30 11:31:17 · answer #6 · answered by ? 4 · 0⤊ 0⤋
yes but the amount that you owe will be added into the loan of the new car that you are buying.
2007-03-09 18:13:31 · answer #7 · answered by mother of Bridezilla 3 · 0⤊ 0⤋
no
2007-03-09 18:14:57 · answer #8 · answered by Matthew M 2 · 0⤊ 0⤋