Quote:
Originally Posted by RAF1
In reference to your question on trade in,take your trade in at 12000 off of the sticker of 20000 and then add back the 16000 you owe on the trade in and the figure you will have to finance will be 24000.00. Remember that the amount you owe on the trade in will not just GO AWAY. l spent 35 years in the car business financing vehicles and that is how it works.
My suggestion frankly is to keep your trade in and pay it down more until at least you have an equity.
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YOu make a great point and you explained it very clearly. I think keeping it would be the best way. Just out of curiousity what if I chose to go with a car valued at less then the blue book?