Automotive

Looking for automotive thoughts on trading in

  • Last Updated:
  • Jun 14th, 2018 8:02 pm
[OP]
Newbie
Oct 26, 2003
31 posts
6 upvotes
Caledon

Looking for automotive thoughts on trading in

Looking for automotive thoughts on trading in

My wife has a 2016 Mazda CX-5 GT [Financed], (top of the line) she had a Nissan Rogue previous so when we had our first child she wanted to stay with a taller SUV/CUV as opposed to a car. Needs now have changed, how does it work when you trade in a car that is financed owing still (20,000) and has more value than say a car that is worth under 20,000 or so? I’m sure this goes on daily everywhere but I don’t know how it all works Any insight would be greatly appreciated in making a decision to move down to a car.

Rav
1 reply
Deal Expert
User avatar
Jan 27, 2006
16926 posts
1351 upvotes
Woodbridge
Whatever you decide to get the dealership will take the NEGATIVE EQUITY and add it to the new loan. Unless of course you can pay the difference.

To minimize damage, sell it privately.

Clearly it's not recommended, I know someone financing the new Nissan Murano Platinum for $65k.
"I'll put up color bars before I'll put you in front of our cameras."

- MacKenzie
THE NEWSROOM (HBO)

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