Question:
I bought a 2005 nissan. It's been six months and I realized I don't wanna be stuck for 5 years for a car that is not even worth. I got an offer to refinance it for less APR, but in the other hand I don't really like the car now and I would prefer another model. What should I do first, refinance it or go to the dealer to trade it in for another, and try to get a lower APR. Please help me with this issue. Thanks in advance.
Answers:
Buy a car sight unseen from a dealer?
Trade it in now or sell it outright. If you refinance you are going to have the full amount on your books.oh no...try a nutter butter.
Does anyone have an old charger or a cuda that you want to get rid of? (anything under 1972?
if you have owned it for only 6months then you will be buried in it. which meens you owe way more than what the car is worth. You are jumping the gun on doing either (Refinancing or Trading in.) if you want to refinance you will have to put a bunch of money down, unless you have well over a 700 credit score and thats doubtfull if you are even in a position of talking about refinancing. or if you trade it in you also will have to put a bunch of money down to counter the negative equity, and thats not even talking about the vehicle your trading it in for. the bank won't buy the deal if it is not inline with book value. so you will need even more money, because you will need to counter negative equity in old car and down payment in new to bring the balance in line with book. you should keep the car for at least 1-2 years then trade it in.More Questions & Answers ...
This article contents is post by this website user, CarQnA.com doesn't promise its accuracy.
Copyright 2006-2008-2007 CarQnA.com. All Rights Reserved.