I owe $21000, my car is worth $15000. Can I trade it in?

Asked by Oct 20, 2014 at 05:28 PM about the 2014 FIAT 500 Pop

Question type: Shopping & Pricing

2 Answers

95

Sure, as long as you either A, have enough to cover the difference, or B, your loan covers both the new car and what the difference on your old car is Jeremy Taulborg Redline Motorsports (614) 808-6788 Redline.Motorsports@usa.com

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98,345

That is what is called upside down in a car loan, you are only going to get deeper in debt if you try to buy another car. It would be best if you could pay it down some more before trying to get another car.

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