2007-03-17 11:26:05 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
absolutely. and you DON"T have to buy the same make of car. you bring your vehicle to ANY dealership where you want to buy. the dealership will call up and get your current payoff. they'll appraise your vehicle right there and see if there is any equity in your car.
Meaning; if your payoff is 3000 and you still owe 3,500...then 500 will be rolled into your new car loan. BUT if your payoff is 3000 and you only owe 2,500 then 500 will be deducted from your new car loan.
2007-03-17 14:46:12 · answer #1 · answered by Melissa T 3 · 0⤊ 0⤋
Yes you can. But is your car giving you problems?...or are you just tired of it.
If you are in a good financialy situation meaning a good job that pays the bills, then yes you can go ahead and trade you car in, but if you are a student working at fast food restaurants or at the mall, i do not recommend trading car unless it is due to be trade in. Make due with what you have and save money for the future for what you trully want, a house, pay off your lons, etc.
But yes you can trade you car in even if you still owe, now also consider that if you owe and you buy a car of more ammount you might be on a negative and may owe more than what you owe right now and may pay more or less, depending on the amount.
2007-03-17 11:36:16 · answer #2 · answered by A D 2 · 1⤊ 0⤋
Yes that is what car dealers refer to customer as being upside down in a car (owing payments)...
but you will have to find a dealer willing to make you right side up...meaning they pay the other one off and then put you upside down agin on another car..
if your cars value isn't good enough or you got suckered really bad (too bad of a deal on car you're in... they may refuse to do this...
they also look at your payment history... did you make payments on time?
and the car did you bang it up in the process?? did you keep it maintained or run it down while you had it???
basically are you safe bet or a risk where they will lose money vs make money...
remember they're in business to make money not necessary make friends or do you or anyone else favors
Walt
2007-03-17 11:48:26 · answer #3 · answered by Ronk W 4 · 0⤊ 0⤋
it's called a "dead horse" and after the trade is all done, your
outstanding bill is added to the financing of the new car. Thus,
immediately upon signing the paper work, you couldn't sell
the new car for enough to pay for it.
2007-03-17 11:37:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I did it several years ago with a Toyota dealer as long as i bought a new one from them. It was a great deal, but just make sure before U sign the dotted line that everything U want on the new vehicle is exactly what U wanted. !!!
Best of luck. !
2007-03-17 11:36:22 · answer #5 · answered by having fun 3 · 0⤊ 0⤋
you can but they will give you much less
2007-03-17 12:04:12 · answer #6 · answered by eviot44 5 · 0⤊ 0⤋