Tips on Buying Cars: Trade In- Still Paying Off, jeep wrangler, size tire


Question
Hello sir,

I have a 2001 Jeep Wrangler X w/ approx. 68000 miles on it. I owe $14000. I would like to trade it in for something a lot less, say in the range of $6000-$7000. What is the process for this? Am I considered upside-down?

Answer
Hi Adrianne
With the information you provided i dont want to guess what i think your vehicle is worth , the Wrangler came with many options,  Auto or Stick, 2 Tops, engine size, Tire Size etc, but i think its safe to say your upside-down, the question is by how much, and if the lender is willing to build this amount into your new payments without you having to pay some cash.If you were trading up it would be easier to build in the negative, trading down it becomes a problem.

I would like to help you but need to know why you want to trade down ( i assume it has to do with payments ? )

If you decide to reply check the make question private.
Regards
Ray
PS...Check out my website   http://www.usedcartips.org/  
 it will give you some pointers how the process works