Will I have Negative Equity.??

Question:
I want to trade in my car but I have not paid it off yet. I have had it for almost a year and a half. I probably still owe about 9,000 on it. I want to get a car that cost about $15-$20. The car I still have is worth about $10-$12 (I guess). I will be putting a deposit down of about $2,000. What do you think?

Answers:

We might be buying a ford focus lx automatic 02, what do you think?

you owe 9,000, borrow say 20,000, (29,000) get 10,000 for trade in, and pay down 2,000.,(29,000 - 12,000 = 17,000.00) you'll end up owing about what the car is worth and if its new you'll end up upside down about a third of that for depreciation after you drive off the lot...then add the interest your paying on the loan.do you really need that new car now?

---

I am going to buy a new vehicle what brand or what should I get? Suv preferred?

you need to find out exactly how much you owe on it.

---

What kind of truck do I buy?

Usually, your car is worth FAR less than you think. However, if you are going to put $2,000 down..that should clear up any neg you might have. Thats with a worse case scenerio of the dealer giving you $7 or $8,000.

---

I'm looking for a ford mustang 1990 to 1993 manual transmission?

if you can get the money out of it to pay it off then you will be ok then the $2000 dollars will lower your new payment and get the new car closer to bein yours but if you cant get enough to pay it off you have to roll your old payment into the new one to pay to pay it off. The bank will still want the money for your old car. you may want to sell it on your own and get your loan paid then go after your new car (check a blue book to see what your car is worth or call a bank they will do it for you

---

Has anyone ever dealt with a car sales/export company in Japan called Globiz?

If your car is worth more than what is owed you should make out just fine.
If you owe more than your car is worth you will have negative
equity

---

More Questions & Answers ...

What is the cheapest and fastest automatic trans car?

What happens when you hide a car when its up for repossesion?

What is the best second hand car for under £1500?

What are some very popular selling used vehicle in and around Windor Ontario?

Car prices?

What is the best suv to buy?

Should i buy an xb-500 electric bike to got to work?

What is the best car for driver's side headroom, legroom,economy, and performance?

Where do i get rid of a car that was hit?

What are some of the things to look for when buying a used car?

This article contents is post by this website user, CarQnA.com doesn't promise its accuracy.