I am looking in to buy a new car but i still owe money on my other car?

Question

i still owe $20'000 but my truck is worth $20,000 my friends tell me if i bring my car to the dealer they will give me the lowest price possible what do i do!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answer 1

Trade it in, gain $2,500 profit from it, go to a big dealership, i want to trade this in for 22,500 and i owe 20,000 on it.

Saying aas you have a 20k truck, you should have good credit, look for an apr rating under 7% by basics.

They can and will  pay off your trade, plus get 2500 extra, basically your selling it for 22500 to the dealership.

Not much profit, but still they paid it off for you, so.

Another thing, get new vehicle, sell your truck seperatelly, side street, autotrader etc. prob sell it for 25k, make a lil more money for it.

Couple suggestions

Answer 2

You have only three options and one of them is to just keep the truck.

The other two are, accept the offer they give you for the trade or sell the car yourself.  By selling the car yourself you'll be able to get more out of it but don't be surprised if the offers you get (whether it be a trade allowance or a by owner sale) don't pay off the loan.

You will probably have to absorb the balance into the new car loan or use cash to pay off the loan balance.

Answer 3

u can search and find out the price of car from the google website, below i have wrote a link of google website search that will help u.

http://www.google.com/custom?q=buy+car&s...

Answer 4

If your truck is actually worth 20k then great go trade it in and dont lose anything.

I must say that if thats the case its a rare situation. if you just looked up your trucks value on KBB or edmunds or somehting similar then your going to be very dissapointed when you go to the dealer and they tell you how much its really worth, and they arent trying to ripp you off either, trucks arent worth anyting right now and places like KBB or edmunds never reflect accurate values. They dont have to actually write a check for the vehicle they make a qoute on and then try to resell it.