I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down

We owe $2000 on a car that%26#039;s worth roughly $2000. We%26#039;re trading in in a few months to buy another used car, but upgrade. In the used car lots eyes, how are we going to get a better deal...

A) Pay off our car with our Federal Rebate Check, plus additional funds. Then use our car as the down payment.

or

B) Trade in our car still owing about $1000, give $1000 down payment cash, then finance the rest?

Does it make a difference, how are we likely to get the best deal from a car lot... Any advice would be greatly appreciated!

Thanks...

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

You%26#039;ll get the most money out of your car if you pay off the loan and sell it yourself. dealers will only give you a wholesale value for your car...you%26#039;ll be lucky to get $1000 for it...they just send it to auction so they really don%26#039;t want it all that much. If you sell it yourself you%26#039;ll get double what they give you...use that money as your down payment. That saves you the hassle of negotiating the price of the new car and your car. that%26#039;s the smart way to do it.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

The car probably isnt worth finishing paying off, so I would trade upside down and use the rebate check for a down payment. And let the dealership payoff your trade.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

A) Pay off our car with our Federal Rebate Check, plus additional funds. Then use our car as the down payment.

or

B) Trade in our car still owing about $1000, give $1000 down payment cash, then finance the rest?

Does it make a difference, how are we likely to get the best deal from a car lot... Any advice would be greatly appreciated!

Thanks...

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i would go with a

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

Well you%26#039;re always going to get more for your car if you sell it privately. If you turn it into the dealer, they%26#039;re gonna low ball you and you might not get what you%26#039;re hoping for.

I suggest you pay it off and then try to sell it privately, then go to the dealer and negotiate with just the cash for the down payment.

By the way, we traded our car (which we still owed money on)into the dealer and they took more than a month to send the final payment to our financing company. Then we noticed that the finace company reported a 30 day late on our credit report. then we had to dispute it and it took like three months to get it all cleared up. So that%26#039;s why I would avoid trading in a car when you still owe $.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

Listen to Eee Gee,it%26#039;s the best thing to do.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

Unless it%26#039;s a real dog, keep driving it and put the money away so when the car is paid for you%26#039;ll have some dough for a better car. Put the money in your pocket and not the dealers.Going upside down on a loan is really stupid.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

I%26#039;d stand on my pymnt history to negotiate a very low finance rate and %26#039;sacrafice%26#039; my trade-in as a good faith contribution. O finance fees would be my goal. Be sure to Have all payments sent on time and traced every month. I know this amounts to a fee but, .001% is far less than a single default over the term of the loan. You will gain a huge return for every dollar spent if you follow this simple precedure.

I owe $2000 on my car and am trading in. Should I pay off or trade in upside down and use $ for down payment?

Put your car on Craigslist.org for the payoff amount or a little more. Pay it off with that money.

Talk to your bank, credit union or the company that is financing the car you have now to be pre-approved, this will save you on the interest rate and monthly payments. Use your refund check for the down payment on your new car.