Can I use my trade in car as a down payment?
I'm thinking of buying a 2012 Honda Civic. I currently own a 2007 Toyota that is fully paid off. I have decent credit but would like to trade in my Toyota. Can I use my trade in car as a down payment?
Sure. The trade value of your old vehicle will be applied as a down payment on your new loan.
Of course. Why would you think you couldn't?
Car dealers take trade ins on a daily basis as part of their business.
Some cars are kept and resold at retail by the dealer and many others are resold to wholesalers or lower end dealers.
You will only get wholesale or below in "real money".
Yes, you can, but selling it yourself will probably get you a better result. The demand for used Toyotas is usually pretty good.
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