can i trade in a car if i still owe money on it and how?

5

Asked by Feb 04, 2014 at 03:22 PM about the 2002 BMW 7 Series 745Li

Question type: Shopping & Pricing

i still owe about $3500 on my 2005 bmw 325i im paying $10900 for it with 119,000 miles on it in great condition.black on black very pretty.i see a 2002 7 series i like can i still trade my car?7 series 745li list at $9999.

3 Answers

yes, I would try walking away owing what you owe now on the 325i... if there both worth 10,000 then it would be like putting 6,500 down and owing 3,500 just don't let them give you less then blue book on a trade in... hth

245

First of all : BLUE BOOK , Versus NADA , will all depend on what region of the United states your in Blue Book is typically a west coast thing... secondly what you owe on the car versus what it's ACTUAL CASH VALUE IS WILL COME INTO PLAY....I.E. you owe $3500 and the car is worth $7000k and they want $10,000.00 for the car your buying..They will pay off your trade in and now you will have $3500 as a down payment toward thge car you want to buy in addition you will have to pay taxes only on the difference no the $10,000.00 original selling price since you used a trade in......

1 of 1 people found this helpful.
5

Very very helpful.thanks so much!!!!!

Your Answer

Add photo

Related Questions

7 Series

Looking for a Used 7 Series in your area?

CarGurus has 5,956 nationwide 7 Series listings starting at $2,999.

ZIP:
Get More Money for Your Car
Be seen by 20 million shoppers. Create Your Free Listing

Search BMW 7 Series Questions

BMW 7 Series Experts

#1 lweems
lweems
Reputation 1,690
#2 Tom Demyan
Tom Demyan
Reputation 570
#3 Vince Lee
Vince Lee
Reputation 530
View All

Related Models For Sale

Used BMW 5 Series
466 Great Deals out of 15,436 listings starting at $500
Used Mercedes-Benz S-Class
140 Great Deals out of 6,601 listings starting at $2,990
Used BMW 6 Series
87 Great Deals out of 2,887 listings starting at $7,200
Used Audi A8
44 Great Deals out of 2,035 listings starting at $4,300
Used BMW 3 Series
941 Great Deals out of 30,258 listings starting at $1,000
Used Mercedes-Benz E-Class
360 Great Deals out of 19,350 listings starting at $1,500
Used BMW X5
451 Great Deals out of 15,733 listings starting at $2,800
Used Land Rover Range Rover
99 Great Deals out of 4,532 listings starting at $3,499
Used Jaguar XJ-Series
44 Great Deals out of 2,713 listings starting at $1,990
Used Cadillac Escalade
195 Great Deals out of 10,972 listings starting at $3,200
Used BMW M5
22 Great Deals out of 597 listings starting at $8,495

Used Cars For Sale

2018 BMW 7 Series For Sale
764 listings starting at $80,161
2017 BMW 7 Series For Sale
13 Great Deals out of 1,304 listings starting at $59,999
2016 BMW 7 Series For Sale
8 Great Deals out of 280 listings starting at $54,440
2015 BMW 7 Series For Sale
14 Great Deals out of 372 listings starting at $28,995
2014 BMW 7 Series For Sale
32 Great Deals out of 771 listings starting at $23,980

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.