My Car Is On Finance Can I Trade It In

Ariana

9 Mar, 2019

Edited for stupid mistake. I currently have outstanding finance on my car.

How To Trade In Your Car When You Owe Money On It Nerdwallet

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My car is on finance can i trade it in. You can trade in your car to a dealership even if you still owe money on it but this can be a costly decision if you have negative equity. There are many reasons why you might want to sell your car but what happens when you still have finance owing on the vehicle. Trading in a car with outstanding finance.

Its not any fancy scheme just basic personal finance. Its so common that you shouldnt even expect a dealership to bat an eyelash when you announce that you still owe money on your current car. In fact dealerships do this all the time for customers.

When you trade in a vehicle that still has a loan on it youre still responsible for paying off the balance. In fact very few people actually wait until their vehicles are paid off before purchasing their next one. Consumers trade in cars all the time on which they still owe money.

After that they should pay out the existing finance and put the difference in between the finance and the trade value towards the new car. Can i get a new one. You can trade in your old car even if youre still making payments.

There are many reasons why you might want to sell your car but what happens when you still have finance owing on the vehicle. Will i be able to trade in my car even though there will a huge amount of negative equity. Its probably not going to work out financially but its something im tempted to do car is begining to annoy.

Can i trade my car in with out changing the monthly payment. Anyone on here ever done it. Have 0 interest on my deal but my car has only been valued at around 7500 due to a newer model being released since my purchase.

Learn more at the car connection. Hi we already have a car from stoneacre on finance for more than 19 months we want to change the car without changing our monthly payment amount is it possible. How does it work.

It is possible in many cases to trade in a financed car for a cheaper one but it really all depends on your situation. I couldnt use my old car as a trade in as it still had the finance outstanding on it and the garage valued the car less than the outstanding finance b ds if the value of the car is more than the outstanding finance then the garage will pay the finance off and also take the difference as a deposit. The decision to pay it or roll the balance into a new loan should be based on factors like how much you owe what your car is worth what kind of vehicle you want to buy and the interest rate you qualify for.

Hi i would like to. Can i swap my car if its on finance. Alright ill get the finance amount down below the trade value of my car by a good bit before i trade it in.

Hell ive got an 18 month wait on an 86 anyway.

Can I Trade In My Drivetime Car For Another One Answered