Tech Support Forum - View Single Post - Trade-in Question

**Baldie559** · 08-02-2007, 09:51 AM

Can someone explain the Trade-In process to me? This is how view the trade-in process. I wanted to purchase a $20K car. My trade-in is valued at $14K but I still have abotu $16K left on the loan. If the dealer takes $12K for the trade in that leaves me with $4K of negative equity. So $20K - $12K brings me to $8k. Now add $4K (neg equity) to the $8K and I get $12K. Now is $12K the amount that will get financed? Do I have the trade-in process correct?

08-02-2007, 09:51 AM	#1 (permalink)
Baldie559 TSF Enthusiast Join Date: Nov 2006 Location: California Posts: 654 OS: Xp and Vista	Trade-in Question Can someone explain the Trade-In process to me? This is how view the trade-in process. I wanted to purchase a $20K car. My trade-in is valued at $14K but I still have abotu $16K left on the loan. If the dealer takes $12K for the trade in that leaves me with $4K of negative equity. So $20K - $12K brings me to $8k. Now add $4K (neg equity) to the $8K and I get $12K. Now is $12K the amount that will get financed? Do I have the trade-in process correct?