Can you trade in a vehicle if your late on a payment?

Question

Can you trade in a vehicle if your late on a payment?

Answer 1

"no you cant because if you trade in your car the person who buys your car will have too pay your payment" - What??? If the car's traded in, the loan's paid off. It doesn't transfer to the new owner if the dealer resells it.

Now, your real problem is getting financed again. If a lender sees recent late payments (especially if you're late right now), they'll be prone to turning the application down.

Answer 2

no you cant because if you trade in your car the person who buys your car will have too pay your payment

Answer 3

You must be informed when going to trade in your vehicle to a dealership.  If you are not certain of the value then you can be at a disadvantage.



Dont be suprised if a dealership makes a terrible offer. It's simple to get a estimate at a website to check how much your ride is worth.  I have recommended http://tradein.123thebest.info - Good luck.

Answer 4

Yes, the dealership buying your vehicle will get a payoff amount from the finance company and that will include late charges.

Answer 5

yes you can.