buy and sell?

1 ⤊

How does it work when you trade in a car you still owe on?

What are the pros and cons?

2007-07-03 06:38:46 · 2 answers · asked by tennisgirl 1 in Cars & Transportation ➔ Buying & Selling

2 answers

The first guy is right. This is not a good choice, wait until you paid for the car in full. Never spend money you don't have.

2007-07-03 06:49:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋

The dealer will just add what you owe to the balance that you have to pay for the new car. He will subtract what he is giving you for the trade in allowance.

You will just be getting deeper in debt, and will owe more than the car is worth. It will also make your interest rates higher as a rule.

2007-07-03 06:43:40 · answer #2 · answered by Fordman 7 · 1⤊ 0⤋