I want to buy a newer truck but my trade in is up side down What should i do?

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Answers:

What are some websites to search for used cars for sale?

Don't buy the truck...find someone who is willing to take your trade in at cost to break even.trust me someone will do it.

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How much does Chrysler 300 cost?

If your credit is good, you can find a dealer to make a deal, but just remember you'll be upside down in your new one also.

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Integra or sentra spec v. should i trade my integra?

there is no easy way to do this. even if you find a car dealer willing to sell you a new car, they are gonna pay off what you owe on your old car, and add that to the purchase price of your new car.

Who killed the electric car?

so if you owe $4000 on your old car and your new car costs $15000, you will be financing a total of $19,000 ($4000+$15000). this is NEVER a good idea becuase immediately you are upside down on this loan, because you owe more than the value of the car.

Which one is better honda civic EX or LX or HX ?

best advice is to stick it out with your current ride, pay it off, then buy a new one.

CARFAX report discrepancy?

check out carbuyingtips.com for more information on how auto financing works.

Lawrence KS Automobile Dealers?

good luck

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Honda Accord '07?

I happen to work in the automotive industry, and have some pretty staggering numbers for you. 84 percent of the car buying public has trade in that they are upside down in (owe more than it is worth) Of those buyers, 53 percent are at least 3500 dollars upside down. So, you are not alone it seems. I used to manage a dealership for 10 years, and am now on the wholesale side of things, and see this every single day, pretty much when a customer came in with a trade, they always owed more then it was worth. This is due to numerous things, longer contracts, bigger rebates that drive down the new car prices, which in turn drives down the values of used cars, etc. What you should do, is if you need to trade in, find a dealership that is willing to give you the most for your trade in. Find a vehicle that has some decent rebates, to eat up some of your negative equity, so that you aren't in such bad shape the next time around. Also, negotiate, negotiate, negotiate. Get the best price, make more than the monthly payment, to pay off some principal on your loan. Next time around, you should be able to be in a better position. Good luck with your new truck.

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