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 RWD

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

255

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

7 Series

Looking for a Used 7 Series in your area?

CarGurus has 5,273 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

BMW 7 Series Experts

  • #1
    lweems
    Reputation
    1,760
  • #2
    Tom Demyan
    Reputation
    600
  • #3
    Vince Lee
    Reputation
    580
View All

Related Models For Sale

Used Mercedes-Benz S-Class
160 Great Deals out of 7,654 listings starting at $2,000
Used BMW 5 Series
501 Great Deals out of 15,840 listings starting at $1,500
Used BMW 6 Series
82 Great Deals out of 2,500 listings starting at $5,950
Used Audi A8
66 Great Deals out of 1,930 listings starting at $3,995
Used Chevrolet Corvette
187 Great Deals out of 18,698 listings starting at $3,941
Used BMW 3 Series
1,083 Great Deals out of 33,892 listings starting at $1,000
Used Mercedes-Benz E-Class
684 Great Deals out of 22,091 listings starting at $1,500
Used BMW M3
26 Great Deals out of 2,117 listings starting at $6,599
Used Cadillac Escalade
250 Great Deals out of 12,119 listings starting at $2,000
Used BMW X5
348 Great Deals out of 15,253 listings starting at $2,995

Used Cars For Sale

2018 BMW 7 Series For Sale
1,535 listings starting at $75,999
2017 BMW 7 Series For Sale
14 Great Deals out of 242 listings starting at $51,900
2016 BMW 7 Series For Sale
192 listings starting at $45,995
2015 BMW 7 Series For Sale
16 Great Deals out of 445 listings starting at $21,900
2014 BMW 7 Series For Sale
16 Great Deals out of 558 listings starting at $23,999

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.