Finance

Asked by May 28, 2016 at 05:31 PM about the 2015 Chevrolet Camaro

Question type: General

I'm still paying car payments for my 2013 Toyota
Corolla so how will I do it if I wanna get a new car?

2 Answers

235

Check your payoff amount, and compare it to the current value of your vehicle. Say you owe $10k on your current car, and the trade in value is $9k. If the dealership offers you trade in value for your old car, you can either use cash to make up the difference, or it can be applied to the new vehicle loan.That usually works better if your credit is good and you're buying a new vehicle that's already been discounted or has rebates applied.

1 of 1 people found this helpful.
23,515

Take it to the dealer and trade it in- they will pay it off, they do this all the time- they will just add it to the price of the car you are buying- but- you will pay, oh yes, you will pay-

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