Trading in a car help

Ok so I have a car that I still owe $12,500 on. I want this car that is 24,900 at the dealer, If my car is worth 15,000 how would I go about trading it in for this other car I want?

How much money would I subtract from the 24,900?? If any.

Thanks

 

You may as well bend over and kiss your ass goodbye. Nothing good can come of this trade considering that most car salesmen are rip-off artists. However, you're completely upside down in your loan. Not trying to be negative, but you should really re-think this situation.

 

How am I upside down in it, if i owe less than the car is worth? Wouldnt I be upside down if I owed more than my car was worth?

 

ok i just googled this and found an answer explaining it. dang

 

i think when you do this it ends up being really expensive. i'm not sure of the details, but i think you still have to pay the loan on your first car (or maybe the interest or something)...so they tack it onto the payments for the 2nd car.

i know my grandma did this with her vans all the time, and my parents always said how stupid it was. and my grandma's bankrupt...so it probably was stupid.

i've only bought two cars in my life. for $100 and $3100

 

yea i guess basically what would happen is they would buy my car for say 14,000 and since i owe 12,000 on it they would buy my car and pay it off then take away 12,000 from 14,000 and u get 2,000, and they would subtract that from the price of the new car i wanted. so yea it would be expensive

 

you would be better off selling your car outright for the price you want

and taking the cash you have left over after paying off your car for a down payment

 

yea i was thinknig about that but the car i want is hard to find, and they are only sold used. I only found 1 in my area. and im not really sure how it works with selling a car to someone when im still paying it off

 

the answer to your question is ...


sell your car...pay off the debt...and use whats left to buy a decent car for a few thousand and stop paying interest to people who are already rich

 

Word



What car are you looking for Rollin?

 

i've been waiting for you to respond. took enough time

i can maybe get a 1984 honda for a few thousand

 

I bought a 98 Honda last year for 500. Drove it till the motor blew, and then sold it to a Mexican for 500. Worked out pretty well for me.

 

no truck?

 

Yes truck(s). Car for commuting

 

rollin, are you loaded? you want a 25,000 dollar car?!

 

http://www.cars.com/go/advice/Story.jsp?section=sell&story=sellLoan&subject=how_sell

 

that seems like an ungodly amount of money to spend on a car.

I'm really bad with cars though. I pretty much drive them until they die so there is really no need for me to buy anything beyond a basic Point A, Point B type car.

 

read thread again


"loaded" people just buy cars instead of paying their bank to rent them

 

btw,,if you want average trade in values check kbb


http://www.kbb.com/

 

wat r u talking about lol i didnt rent any car. im not leasing it if thats wat u mean