I OWE ON A CAR CAN I TRADE IT IN?
CAN I TRADE MY CAR IN I STILL OWE FOR IT?
I have a 2007 Honda civic Ex 130,000 miles
I owe $7,900 for it I know value went down
I'm looking to get a Civic SI
Can I trade my car in? It's fine if I'll have to pay balance on top of si but just wondering, can someone let me know
Its possible if you have good credit and income and the newer car has a high profit so the dealer can cover the grade deficit.
Get a loan from the bank, pay the car off then trade it in
Dealers arrange this sort of thing all the time. Just ask the dealer.
What value does the place you want to trade it in at place on your present car?
If it's less than $7,900, then your car is worth nothing as a trade, so why bother trading it? Consider selling it privately, you'll get more money than a car store will give you. Plus one common scam that car stores use is to place a high value on the trade, then get it all back with a higher interest rate or price or both on the new car.
Yes you can trade it in.
They will give you the trade in value of your SI minus your loan amount. So if the loan amount is more than the trade in value you have to make up the difference.
You will need to pay your upside down amount in cash at the time of trade or before. But yes, it can be done. You can't roll over negative equity
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