Question about trading in my car and down payment?

Question

lets say i trade in my payed off car for another car. will the dealership let me pocket a portion of that trade in value and let me finance the rest?

Answer 1

actually, yes.  This can be done.  

Lets say your car is worth $5000.  The dealer can show $5000 trade value less $2000 rebate to customer and you pocket $2k.  I have done this on some occasions to give the customers cash toward registration or custom accessories they want to buy outside the dealership.

So the real answer is yes.  BUT - it is us to the dealer to do it or not.

But its really not in your best interest to do this.  You are only keeping the balance of hte car loan higher than it needs to be.  Sell the car outright, and put as much as  you can on the next car.  You can put a little in  your pocket, but look at the longer term big picture.

Answer 2

I would say it's up to the dealership, but I've never heard of that before so I doubt it. Why would you want to anyway, the less you have to finance the better, right?

Answer 3

no

and you won't get any value if you trade in your car.

sell it to a private buyer.

use the money for a down payment and finance the rest thru a bank not the dealership.

Answer 4

when you trade you are pretty much letting them have your car for nothing.... you want a better deal sell it your self for more money than a dealer will pay.... dealer is not going to give you money for a car that he cant resell for more... think about it... its not a deal if he canb sell it for more then you lose money in the trade you think...

Answer 5

Yes they can.

They will show your full trade in value on the buyers order with the amount of money you want to receive as a payoff back to you. This way, you will be able to take advantage of any tax credits <if your state allows tax credit>. Good luck and great question.