trading in a financed car with positive equity

The mileage has been clocked you buy a car with a far higher mileage than stated. The car has major faults you end up with a dodgy old banger.

I Want To Trade In My Car But It S Not Paid Off Driveo

The car has outstanding finance it could be repossessed without warning.

. Trading in a car with negative equity to take on another car loan with even more negative equity is like throwing gas on a fire because its the only liquid you had handy. For example if you owe 4000 on a vehicle worth 10000 then you have 6000 in equity. EQUITY The positive value of your vehicle after any outstanding debt is subtracted is its equity.

The cars been stolen the police could ask for the car back. You just increased the chances for a serious financial meltdown and here is an example of why. I filed before but moved and changed my email due to rude emailsso I tried again and they said I had already filed there high interest caused me a 10k negative equity on my new car after a 1 12 years and the car was 12k 36700 a month I only make 71300 on SSI and now they said I owed over 10600 dollars which without my knowledge the new dealership added to.

With equity on your vehicle you may be able to refinance your loan with better terms. Lets say you owe still owe 10000 on a car that is only worth 5000.

I Want To Trade In My Car But It S Not Paid Off Driveo