Trading in a car i'm still paying on?
I want trade in my car. I've had it for about a year. Its a cool car just want something a few years older (def not brand new). The total of the car was about 11500. Its a 08 honda civic and my payments are $257/month on a 6year term. I just hurried and got this car cause I was in rush be cause my old car had a new problem every week. Now I want somethin a lil nicer. Can I avoid being upside down? I was also thinking of trading in and included a down payment (no more than about $2000) being that I mostly will be upside down on the loan. Should I wait it out another year? Or go for it? Any advice/opinions would help tremendously!
Trading in for an older car doesn't really work especially if you are still making monthly payments on the current car.
You can only trade in your car if it is paid off. You can't carry over the balance to add into a new loan it just doesn't work that way.
This is the trouble with financing cars. It creates trouble. You have trouble.
Sell this car and get all that you can out of it. Payoff the loan and give your buyer the title.
Take the cash you have and pay cash for a car.
Your going to be upside on any car for at least the first half of that car loan. So you got another 2 year before you even break even on that car. So unless you put a big down payment in the beginning, then your better off waiting another year and paying it down some. Try paying more on the monthly payment. It will also help knock down some of that negative equity in the car. And with a $2000 or so down payment on a new car. Yiou will more then likely break even.
- Will a car dealership work with me if I'm gonna lease a new car, while trading in the car I have, which has an outstanding loan against it? The car I have now has a loan against it which is worth more than the trade in value of the car by about $5000. If me and a family member were BOTH looking to lease a new car (so 2 new cars), does anyone know if a dealership will be working to work with me in any way? Also the cars looking to be leased are not high end or luxury cars, they d be coming from a dealership like Honda, Toyota, or Subaru.
- What is the highest paying car dealership to work at? I'm looking to get a job at a car dealership (not as a car salesmen, more of computer and phone work type of stuff) and i'm wondering which car brand would pay the highest? Like toyota, honda, lexus, bmw, gmc and so on.
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- Paying for Honda Loaner Car From Dealership while Paint Recall is Being Fixed? I'm going to be paying $33/day for (1 to 2 weeks) for a loaner car from my honda dealership while its away in the shop. Is there any flexibility in picking what car I want or do they automatically assign me a car. I feel like since i'm paying i should be able to pick what car I want, or even pay a little more for something nicer?