New vehicle for baby

Asked by May 14, 2017 at 11:52 AM about the 2011 Toyota Tacoma Regular Cab

Question type: Car Selling & Trading In

We recently had a child and the vehicle I
drive is a two seater pickup. I cannot
transport him in my truck because of the
car seat/airbag/child safety laws. The
airbag cannot be turned off manually and
there is no safe way to secure the car seat
base to the seat. I want to look into trading
in my truck for a sedan. Here's the other
dilemma:
I owe 8700 on my truck
It's worth 6000
I'm upside down with 2700 negative equity
Is it worth it if I trade my truck in for a
vehicle that's worth 6000? What are the
issues that I face with trading it in?

2 Answers

257,955

It's best to pay off the negative equity before picking up a new loan. If you can't, some dealers will roll that negative equity into the new loan, by giving you more for your trade at the same time adding the same amount to the new vehicle price, but it's not advisable to do so.

2 of 2 people found this helpful.
Best Answer Mark helpful
71,025

You may also be able to trade into a lease. The amount you owe isn't a whole lot and if the manufacturer is running a deal on new lessees they'll possibly absorb the $2700 to get you into a lease. Shop around. HTH. -Jim

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