Is it possible to trade out of a car worth about 9k but owing 13k?

Question:


Answers:

Can you get out of a car purchase if you've already signed everything?

If you have good credit it is possible but not advisable. They will take the extra $4,000 you owe and roll it into the new loan. If you are buying a car that costs $20,000 you will have to fnianace $24,000. You will also have to pay a higher interest rate because the loan will be higher risk because if you defaulted on the loan the bank will not be able to get all of their money back. This problems happens very often and should be avoided by buying cars with high resale values and never getting a loan for more than 4 years. Unless your car is falling apart and needs lots of money for repairs you would be wise to keep it and use the money you save by not buying a new car to pay off your current car faster.

---

What mid-size suv gives the best gas milage?

sure, but if you get rid of it for 9k, you are still going to have to pay off the difference.

---

More Questions & Answers ...

Help me find a car?

Is it good to buy cars from auctions and sale for profit?

Best automatic car to have ??

Want to buy a car that can drift but it has to be worth under £1000?

Which would you choose? And Y?

Anyone have good tips on how to find a really good car for cheap?

2007 VW GTI, 2007 Mazdaspeed3 or 2007 Civic SI?

Is the nissan frontier a good truck?

Does anybody have any opinions on the Jetta or The Mazda 3 or Both??

Would it be better to trade in my car or sell it myself?

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