How can i trade my car in with payments still? for a cheaper car?

Answers:3   |   LastUpdateAt:2012-09-04 01:19:03  

Question
Trenna
Asked at 2012-08-11 09:33:03
I realize now that I have a cheap car for my first time. I have a loan on a car as I had no credit and he was 18. I think it was $ 8,000. I have about $ 6,000 to pay. my KBB value is around $ 3,650 . I would like to exchange it for a cheaper car payments are more manageable payments or none at all. How I can do ?
Answer1BeeDeePee Answered at 2012-08-16 06:12:33
Car dealers are in business to make money. You already admit that the amount due exceeds the present value of the car. If you try to trade they will say they are " paying " for you, but really we're just adding the difference between what I pay and what the payment has had the loan for the new car. You'll lose a whole.

Also with these economic times that have to be very careful. Although they are supposed to pay the loan can not do it immediately (or at all) and you will still be responsible for the original loan, if they did not. There have been major car dealerships have gone out of business and people on the left , due to both a new car and the car was traded in
Answer2tull90Answered at 2012-08-29 20:19:03
I do not think are going to get anywhere with your problem without any car lot paid your car off and have a chance of new loans will not pay kbb 6000 if 3600 cars just upside down with the car you could try to refinance at a lower rate to lower your payment if you can not maybe a signer with good credit can help you good luck
Answer3LynetteAnswered at 2012-09-04 01:19:02
Sure . Go to the dealer , and if your credit is good enough, you sell something cheaper , and roll on what you still owe on your new loan that will put even more down and probably get higher pay , or if not, at unless a longer time to make the payments that will cost you in the long run. MedlinePlus MedlinePlus If possible , accelerate payments, get paid or at least to break even , and sell it . Then start over. The best thing to do is to save enough to pay cash and have no payments at all.
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