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You can trade your car in, however the loan balance must still be satisfied.
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∙ 15y ago
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Can you trade in your car if you still owe on the auto loan?
yes you can trade it in. But if you owe more than what the dealer is going to give you for the car the remaining balance will be added to your new loan
How do you trade in your car when you are still paying the loan for the car?
The balance you owe on the car that is getting traded in will be added to your new car loan. Example You owe 10,000 for the car you want to trade in They give you 6,000 for trade in your new car costs 20,000 you will either have to pay that 4,000 or they will add it onto your new car loan from your car you traded in.
Can you roll the balance of a carloan into a new car loan?
No, it most cases you cannot roll the balance of an existing car loan into a new car loan.
Can a dealer collect on repo unpaid balance?
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
Can a car dealership take a trade in where a loan is not paid off yet?
yes, they buy out the loan, and if the vehicle is not worth what is owed the balance can be added to the amount being finaced on the new one
Can you get sued for the balance of your car loan after the car is repossessed and sold?
Yes.
What is a car loan amortization?
Basically, Car Loan Amortization is the balance of your auto loan. It is the process of following a plan or schedule of your loans for your automobile.
Can you get out of a car loan contract?
NO. Trade or Refinance
What happens to balance on car title loan when car is stolen?
Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.
Can you trade in a used car for another car if you are still making payments on the first car?
Yes you can, but you have to owe less on the car than the trade in given. In other words if you owe 2,000 on the car and they give you three that means the loan on car 1 gets paid off and you have a 1,000 towards the price of car 2. But if you owed 5,000 on car 1 and they gave you 3,000 you would still have a balance due on car loan 1.
How do you find out your car loan balance?
Contact your lender they will tell you.
Can you trade in a car with a balance to lease a car?
There should be no balance in trading each car. No one will accept the kind of deal.
