How do trade ins work if you owe?

Answers:2   |   LastUpdateAt:2012-11-05 15:32:02  

Question
gilt
Asked at 2012-03-09 23:02:16
I have a 2005 Dodge Stratus SXT 2.7L V6. I was looking to replace it with something cheaper and more (yes shocking I know). The thing is that I owe $ 7100 on it and its value of 6500 as trade in I wonder if I changed to a cheaper car (6,000 or less ) still I have the car payment or if the dealer sold it to see that ?
Answer1Hottie Answered at 2012-05-20 18:13:15
When you trade in a car , which still needs to be low. The car dealership NEVER GIVE WHAT THE TRADE VALUE. (EXA ) YOU OWE $ 7100 that can give you $ 6000 for your car. And 1100 should still SELLER PAY FOR WHAT YOU and add new loan. IF YOU BUY A CAR 6000, then to add THAT1100 SO 7100 should then PLUS interest . Most likely your payment may be more than they were paying IN YOUR CAR BEFORE.
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