Can I trade my car that is finance?
I have a 2013 honda civic has 10k miles i want to trade it and get a 2014 scion tc,. I have 54/mo left i got the honda new car buyer with 0 down can i trade it in and how does it work
Maybe but its a really bad idea. You are upside down now. You would be lots more upside down after you traded… Even assuming they let you and they may not.
Your Honda will last you 20+ years. Pay for it and keep it.
You don't build wealth by going in debt.
The dealer will make you an offer which if it is not enough to pay off the finance you have to find the rest.
Then you can do a deal on the next car.
Since you bought it on about 5 years 0% down after one year the car is likely to be worth less than the loan payments outstanding.
This is why you pay GAP insurance in case of the car being written off.
You will need to find the difference pay off the loan and start over again.
Best to keep the car until the loan is paid off and then have something as a deposit.
The dealer has to give you enough on the trade in to pay the loan off or you can't trade it in.
Your present car is good one and you should enjoy this car. I would not advise you to trade this car.
You just trade and the dealership ill deal with all the bull ****.
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