What happens to the lien on my car when I trade it in?
I still owe on my used car. I know when I trade it in the dealer pays off the lien but does that dollar amount get transferred to the car I want to buy? The lien is less than what my car is worth so I'm not lopsided. How do they actually figure my cars trade in value with the lien?
the lien must be paid off for the tittle transfer. of course the dealer will add it to the new car loan. they mark up the price of cars for this reason. you may be able to talk them into a lower price but i assure you the $ for the the lein will be in there even if they say its not. they will probably bullshit you and give you MORE than what your car is worth but they are taking it off the markup they put on the car. good luck- becareful not to get stuck with a huge loan when the blue book of the new car is lower than the price!