Does your current car have an upside-down car loan? What do you do if the car loan is upside-down? You’ll learn how to navigate the trade-in process here, as well as tips and advice for those stuck with an upside-down trade-in vehicle.
How to Get Out of an Upside Down Car Loan
If you’re currently upside-down on your auto loan, which means you owe more money on your car than it is worth, not too many dealers nowadays will allow you to roll the amount you owe into a new car loan. Then you’re stuck with a vehicle and auto loan payment you either can’t afford or don’t want any more. One solution to being upside-down on […] Read More.
Don’t Want to Be Upside Down On Your Car Loan? Avoid These Models
Consumer Reports has put out a list of the best deals for used cars and trucks from the 2006 and 2007 model years based on depreciation. This list was designed to help used car buyers find great deals on pre-owned models, but it’s equally useful to new car buyers. If you want to avoid owing more on your car loan than your vehicle is worth, either stay away from these cars with high depreciation[…] Read More.
Dealers Stop Paying Off Trade-Ins as More Go Bankrupt and Close
You trade in a car you still owe money on and the dealer promises to pay off your current car loan so you can purchase a car from them. Then, to make matters worse, the dealer goes bankrupt and closes. Now you’re stuck with two car loans because the dealer never paid off your trade-in. Or, you buy a used car and then it gets repossessed by the original lender because it was never paid off i[…] Read More.
|Auto loan refinance||End of lease/Lease transfer|