QuestionI currently have a 2002 Chevy 1500, 8 cylinder extended cab truck. It has 118,000 miles on it and I owe 8,948.10 on it. I would like to trade it in on a used 2003/2004 ext. cab truck or an Avalanche. I received financing through the Credit Union where I bank. How do I trade in a vehicle that I still owe on and still get a good deal? And will I have to come up with a down payment?
AnswerHi Beverly
You have 3 questions, lets deal with down payment first.
If your going to finance through your Credit Union again, it then depends if they are willing to except the new amount without you having to supply some cash...
# 2...When you find the vehicle you want the dealership will appraise your trade, if its a negative amount below $ 8.948. get in touch with you Credit Union before you sign any papers to see if they are prepared to re-finance your new purchase,the dealership may offer you financing on the spot, you must refuse till you have looked at all options.
# 3...As for getting a good deal you must learn some steps go to my website http://www.usedcartips.org/ study the 10 steps...
Beverly, when you have found the vehicle you want contact me through my website address before you sign any papers, i will then guide you through the steps ...i will need your zip code and details...
Have a good day
Ray
