trade
How does a trade-in to a dealer work if I have the title?
I have the title, but I have the car financed on a credit card at a very low rate. I am close to break-even, but may be a little upside down. What I am wanting to know is will the dealer pay me for the value of the vehicle i trade in? I do not want to have the trade in deducted from the value of the new car, because then i would have two loans! I have tried to sell the car myself, but have had no offers in 3 months. Thanks!
The real question to ask is to see if the dealer will satisfy your credit card balance instead of a traditional car loan. Financially speaking, unless you absolutely need a new car, I would wait until the loan is satisfied as it will save you the most money in the long run. Realize that the dealer will be rolling any of the remaining balance of your old debt as part of the new loan.
Good luck.
TRADE Trailer
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