Please help me with trading a NEW CAR

Question

I own a honda element 2007. I have 13,000 left to pay it off.

I would like to buy a 2008 GTI, which is around 25,000.

My trade in value the most would be 17,000 or 15,000 minimum.

I understand if thats the case, the dealer where i am getting the GTI will pay off my current payments of the ELEMENT and put it into my new car.

Will if affect my monthly payments?? Im really confused, and i need your help guys.

Answer 1

first you walk in there like you own the joint and when they say we will give you what you owe on it you tell them no that I want the blue book value for it. So if they give you 15,000 for it that extra 2000 you got well be considered a down payment. If they wont give 15000 or something your happy with just tell them thanks and leave cars salesman are hurting to sell cars right now  

Answer 2

Yes that's what will happen, if you use the rest as down payment then it will lower your monthly payment as opposed to going no money down