Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Cars and Transportation
Reply to "Trading in car with loan"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]Can someone please help me? I'm clueless about how this works and don't want to be taken advantage of. I drive a 2016 Kia Soul I purchased used that still has $5000 left on the car loan. The car's approximate value is $9000. If I wanted to trade it in for another used car, how does that work? Does what I still owe just get rolled into the purchase price of the new car? [/quote] The loan gets paid off and any excess lowers the price of the new car. If you're wrong and will owe more than the trade in, do not roll the loan balance into your new loan. If you are ever in a situation where you have to do this, don't but the car. Negative equity will get you a terrible interest rate and you'll be underwater on the new loan for a very long time. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
