When trading in a car, will the dealer pay off the loan if your not upside down?

Answers:4   |   LastUpdateAt:2012-10-10 17:40:04  

Question
Miki
Asked at 2012-08-14 23:37:02
This is the situation :

Our current car is worth $ 3,000

We
$ 2700
The dealer will give us $ 3,000 to the price of new cars .

The new car is $ 8,526.00 and $ 5,526.00 will be reduced when setting the price of the transaction in that direction.

Does the dealer to pay the $ 2700 still owed ​​to the bank? or will we be responsible for it.

We will be funding through the same bank .....
Answer1tishAnswered at 2012-08-26 12:24:02
the dealer will give $ 3,000.00 for his car and goes to pay -off the bank and are out from under that car and the next is going to pay for all this --- do the math .. .. if your current car is worth $ 6,000.00 , then yes you might just get the 3mil discount on your car 's new ... the dealer has to pay the bank to get the title so you can re-sell your old car .. .. but if the trip is only old worth 3,000 So you really think that the dealer is a ' good guy ' and he is giving away $ 3,000.00 .. If I were you I would review your monthly payments and car dealers and see what's up .. .......... Have you looked at car lot more than one? ? ? ? ? ? ? ? ? ? ? ? It is very easy to get a car sold ( because they all look so good compared to the junker we are handling now ) ----- else is buying a car that is our choice and carefully check payments and time (months to pay ) and have your mechanic in the car to make sure it is well ........... basic advice is here .....
Answer2AntaAnswered at 2012-10-09 01:53:21
If the dealer is giving you $ 3,000 for your trade and I owe 2700 ( check that number , because it is usually lower when you are going to pay for the vehicle . You called and asked what is the amount of payment which means you only have $ 300 left for a down payment . that means the new car price is $ 8226.00 . think you're a little confused about how this works. Yeah you pay the bank and put the remainder into the new car.
Answer3stefAnswered at 2012-10-09 14:02:11
Ask the dealer . Probably not going to pay the loan which means it will only receive $ 2,826 for the new car . I would say that you are responsible for paying the loan because they are " giving " you three thousand for the exchange .
Answer4URGUNTAnswered at 2012-10-10 17:39:58
since your car is worth 3000.00 and 300.00 owed ​​them 2700.00 to join the new car loan . if the dealer pays the car they only give you the amount the car is worth paying 300.00 to make the car is 8226.00 . when buying a car always remember that you are the customer and you can go anywhere to buy a car . is your job so that you will buy from them . do not be afraid to say "thank you for your time , but we will look elsewhere" when people stick the idea that a car dealer is doing a favor for what it really is " your doing them a favor"
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