I want to sell my car and get cheaper payments? any suggestions?

Question:
i owe about 21000. i have a 750 credit score. its a 2006 honda element and i'm paying 476 a month and 5.64 apr. i just got engaged and want a smaller car and low payments to save money. hopefully around 250. what should i trade it in for? and how much of a hit am i'm gonna take? is it worth it? any suggestions?

Answers:

do golf carts need a title?

This is based on my experience. Trying to trade in a car is easy to do; however, you're likely to take a hit on your payments. If your element is worth less than what you owe and the dealer is not willing to pay the trade amount for it then you will have what is called "negative equity." The negative equity is then applied to the car that you wish to get into. (in my case, it was an extra 6,000)

which car should i get? guys you know more about cars! HELP ME!?

I would visit different dealers too. At one dealer-I was offered 600, another 1,000, and another 2200. Obviously, different opinions among dealers just miles apart.

Pick the car I am going to buy!?

Depending on your situation, i'd say it's worth it even to take the hit in order to lower payments and start saving some money. Unfortunately, that's how the system works.

wot your best car?

As for cars, i'd recommend anything used and has a warranty. If you're not loyal to a car brand, i'd go with Ford---possibly getting a Taurus. Oldsmobile and GM are also great cars to own and most mechanics are reasonable should the warranty not cover. Toyota would be my next choice.

What is the fastest Sedan that can be bought used for under 10 grand with around 100,000 miles on it?

Congratulations of your engagement. Trade your car in for something you're comfortorable in. Don't settle just cause you want to lower your payments. Good luck!

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Does anyone have a copy of the Kelly Blue Book that contains the information for a 1995 Honda Accord EX Wagon?

nope

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what price do I stick to when purchasing a new car?

You are to up side down to get to a better spot you would have to roll your negative equity and you won't find another car that will carry that. Also as a rule the more negative you roll the hire your interest will be. Also your credit is more or less out of the picture at this point being a second buy. This is where your income becomes the biggest influence.

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What is the usual car loan term?

those payments will be hard to come by. if you put a big down payment on it then it would be a better chance of getting 250 payments. i pay 257 a month for my 99 grand am. i do have a high interest rate though bcuz i was 18 when i bought it with no credit. and a cosigner. i would say your element would trade for around 18k to 22k. depending on mileage and equipment... good luck.

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