I want to trade in my 2008 Chevy Impala for a cheap car?

C

Cece

New member
My current car is worth 9,687 and loan amount is 15,854. I would like get a car that equal or less then the value of my current car (9,687). Would I own additional money? Will my car note be lower or the same? (currently pay 300.19/month) Oh, I have a 72 month loan.
 
Where are you getting a $10K figure on your car value? Do you have a boatload of miles on it or something? I know GM's take a big depreciation hit in their first year but that's REALLY low.

Think about it, if you owe $16K on your car and you can only get $10K for it that $6K doesn't just go POOF into thin air....common sense would say you still owe it.

You would have to roll that $6K into the next car you buy, thus making you upside down on THAT car...basically you'd effectively be putting yourself right back in the same situation.
 
Where are you getting a $10K figure on your car value? Do you have a boatload of miles on it or something? I know GM's take a big depreciation hit in their first year but that's REALLY low.

Think about it, if you owe $16K on your car and you can only get $10K for it that $6K doesn't just go POOF into thin air....common sense would say you still owe it.

You would have to roll that $6K into the next car you buy, thus making you upside down on THAT car...basically you'd effectively be putting yourself right back in the same situation.
 
Back
Top