In a Pickle

Asked by LeftyBCBA Nov 10, 2018 at 12:45 PM

Question type: Car Selling & Trading In

I owe $8300 on a car that has a trade in value of $7000. I want to lease a
new car. I don't have Tier 1 credit. What should I do?

a. buy out the car to get a clean title and trade it in for the lease
b. trade in the car, hoping they buy out the remaining balance and go from
there?

Thanks

1 Answer

F_O_R answered 5 years ago

You can keep driving it or try to roll over the balance into a new loan which will mean really high payments. Buying it and then trading it in is probably the worst plan of all but you would have to do the math. How about selling it yourself? You might break even that way.

1 people found this helpful.
Mark helpful

Your Answer:

Related Questions

  • In a Pickle 1 Answer

    I owe $8300 on a car that has a trade in value of $7000. I want to lease a new car. I don't have Tier 1 credit. What should I do? a. buy out the car to get a clean title and trade it in for the leas...

    Car Selling & Trading In

  • Purchase with a trade-in 1 Answer

    Will CG take a trade-in when I purchase a new car from them? JC

    2000 Subaru Forester

    -

    Car Selling & Trading In

  • Interested in Buying a car 1 Answer

    Yeah there’s a wrx sti 2016 with a salvaged title that I’m super interested in if you could please contact me at ahivenmelendez@gmai.com I would appreciate it thank you

    2016 Subaru WRX STI Limited with Wing Spoiler

    -

    Car Selling & Trading In

  • I have a question about a trade in 2 Answers

    interested in a Mustang you have, would you consider a 2003 Ducati 800SS streetbike as a trade in? It is in excellent condition!

    2007 Ford Mustang GT Deluxe Coupe RWD

    -

    Car Selling & Trading In

  • will cargurus deliver a trade in 2 Answers

    I live in Marietta GA and saw a car in Kansas, but want to use my existing car as a trade-in. The icon shows Cargus will deliver the purchase but will you pick up the trade-in and take it to the de...

    Car Selling & Trading In

Shortcuts

Search Car Selling & Trading In Questions

CarGurus Experts

  • #1
    Ed92626
    Reputation
    5,760
  • #2
    james sparrow
    Reputation
    3,180
  • #3
    Bob Beaman
    Reputation
    2,860
View All

Find great deals from top-rated dealers

Search

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.