Trade in car with loan?
Hello, My question is that my parents own my current car. It has a loan on it for
about 14K. I would like to purchase a car. Can I use the current car as a trade
in or am I SOL on that? Would I be able to out right sell my current car and use
whats left after the loan for a down payment?
Check the value compared to the loan balance. Unless the car is in your name you cannot sell it or trade it in.
If you don't own the vehicle you can't do anything with it. Plus you don't want to roll $14,000 into a new loan! Your payments will be super high and you'll be paying for two vehicles, one of which you no longer have! Not a good idea! Hope that helps! Jim
Can’t use current car as trade in... but u can finance the fusion for 5 years and payments would be under $200/mo