I have a car that I owe a little under 5k for, I would like to trade in the car and buy a car outright "cash". The balance on my car, will this go towards payment that I would like to make on new car?
Yes, your car in excellent shape is worth about $6500 trade in, and you owe $5000, So you have a balance of $1500 plus the other amount you saved up to buy that other car for cash. Good Luck!
I looked up an average 07 Taurus SE similar to the company car I once had and found excellent with 60K miles to be worth close to above. Here's a link to my Kelly Blue Book results. You can enter your own zip code and get a more exact value for your car there too. http://www.kbb.com/ford/taurus/2007-ford-taurus/se-sedan-4d/?vehicleid=83707&intent=trade-in-sell&mileage=60000&category=sedan&options=1751409%7ctrue%7c1751421%7ctrue&pricetype=trade-in#survey
Thank you much to the both of you. I am glad that I asked this question as I assumed that I could not trade it in if I wanted to pay cash for new vehicle and still receive credit for old vehicle.
And thank you for the Best Answer Points!
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