How to Trade in a Car that is not Paid Off | MONEY $AVING TIP$
HTML-код
- Опубликовано: 6 май 2020
- Here is how to trade in a car that is not paid off and not get ripped off. The process is simple and with a few tips you will be sure that you don't get ripped off.
Signup for a FREE 30 day trial of Audible from Amazon and listen to your favorite audiobooks:
amzn.to/2y7Pi5A
You here all the time about people losing their shirt with buying a new car which may leave you wondering how to trade in a car that you still owe money on? If I told you it was a simple as drive into the dealer, set a price and walk out with a check you would probably think I was blowing smoke. However, the truth is that it's that simple. The complexity starts because a lot of people find themselves a loan that is upside down where they want to trade a car with negative equity. This was why it is so important for you to get best possible price from the dealer when your trading in your car. The problem is dealerships are trying to buy it for the lowest price you will let them get away with. Upside down car loans are everywhere and people attempt to trade in cars like this everyday. I provide some very useful tips in this video to help you get the most for your trade.
Other video that may interest you:
5 TIPS to PAY OFF a CAR Loan EARLY - MY TRUCK PAID OFF IN 34 MONTHS!
• 5 Tips to Paying Off A...
My Experience Working Two Jobs in the Military | When ONE Income isn't Enough! • Video
How To Get A Job At Best Buy - Get Ahead of the Competition
• How To Get A Job At Be...
//CONNECT WITH ME ON SOCIAL MEDIA//Instagram// @DiamondDEdwardsTwitter
@DiamondDEdwards Instagram
Business Inquiries:Email// diamonddedwards@gmail.com
#DEBTFREE #SAVEMONEY
///DISCLAIMER///
This video is for entertainment purposes only. Always seek professional assistant for financial and legal matters
#tradinginacar #negativeequity #PersonalFinance
I just followed your tips, got my car paid off and have a great 2016 car for about 8k less!!!! 😭😭🙏🏾 God is good!!
Amazing! Welcome to the community Abby😀!
I dont mean to be so off topic but does anyone know of a trick to log back into an instagram account..?
I was dumb lost the account password. I appreciate any tricks you can give me
How was the process
Great video, thanks buddy 👍
Great info. Thank you for the video.
I like your information. Straight to the point. Thanks
Thank you!
this video answered all my questions wow thank you !
Dropping SO MANY gems in your videos, ppl just don’t know it yet. Please keep these videos coming 🗣
Excellent info, thank you!
Thank you!
Very insightful, thank you
Thank you for watching.
Thank you so much for the information you are such a big help you answered my questions to the T.
Facts great video
Man, EXACLTY what I needed to know. Great job explaining the truth 👌🏽 subscribing now!
Thanks and welcome! New videos added weekly!
You are the man !! Thank you for the great information
Appreciate that, but you're the one who clicked, watched, and commented. Go kill it, my friend!
Great Video Appreciate the Information
Really great video! Thanks!
Thank you!
Great video, brother! You broke it down like a champ!
I appreciate that Jordan! I’m trying to get this financial information out to the people one video at a time! New videos each week.
Thank you for your helpful information. I'm a new subscriber!
Thanks good advice
I like the way you explained it. You are very knowledgeable about this. Thanks
So nice of you
great video my guy!
Good job Diamond in explaining the details.
Thanks!
You are a great speaker! thank you for sharing your gift.
Wow, thank you!
Great video!
good video helped out alot
THANK YOU !
Thank you so much for making everything easy to understand, I hope the best for your channel
I appreciate that! It's my mission😀
Just subscribed Diamond, thank you very much for sharing your knowledge. You're really going to save my butt.👍
Glad to help. Welcome to the community!
FINALYY A GREAT EXPLANATION
Thank you😃
Thank you good sir!!!
Thank you so much
Great information...
Thank you for your detailed video! Can applying negative equity to loan apply for (certified)used cars or only new cars? I would like to get a newer version of my current truck but still owe about 4K.
very helpful
This is great info! I'm about to trade-in my suv for a truck.
Very good information
Glad to help!
Super video. You are great
Thank you very much
you are amazing im looking to trade my yukon in for a mini van still owe on it tho this helped me a ton
Great video bro hand one if the best about cars on youtube
I truly appreciate that!
Thanks for the info. Just called my lender and found out I'm finally building equity in my car that I want to trade in. So I'm in no hurry to get rid of it. Now I can patiently look for another car to buy.
That means its getting paid off which is a good thing. Once it's paid off I would ride in that joy for awhile. It feels good!
Ooooh. Im looking to trade in mine in the next couple weeks. Thank you!!
Because of COVID-19 the auto industry is saying that wholesale is down 8% but retail is down only 1%. AKA we’re going to give you less for your trade and sell you a car at retail. Don’t be a sheep, GET what your car is worth or go somewhere else!
Diamond Edwards Any experience with rental companies car sales ? I want to trade my Camry for a camaro. Can I get a trade in value estimate over the phone before heading to Arizona. Can I finance through hertz? Can you Negotiate with them?
One of my current cars was a rental (AVIS). I've had it 9 years with 130k miles and no major issues but I bought it from a dealer who purchased it from an auction. I have never dealt with the rental company directly. I would just give them a call but all car buying rules 101 apply. You can get a instant online trade in quote at autotrader .com. Don't let them steal your trade.
@Diamond Edwards Hello I bought a 2012 mustang coupe premium in september 2020. It wasn't a trade in. My car loan is 5.5. which is 66 months. My car payments is $350 a month which is a lot. I been having a buyers remorseful crisis off and on since october. I wish i would have been more open to 4 door cars instead of mustangs. I put my heart and soul into wanting a mustang but at the same time i wish i was more open to 4 door cars but i can't go back and change something that's already happened. I can't refiance my car right now because i owe more on my car than what it's worth. I'm not planning to keep my car for all 5.5. years and i'm not planning to refiance. In the near future i want something that's more affordable and not so expensive. My question is how many years do i have to wait to trade my car in without refiancing?
Very helpful
Glad to hear that
Thank you
New sub thanks 4 the info 🙏
Thanks for the sub and welcome to the community!
Excellent
Thanks bro
Who great video thank I God Bless
Glad you enjoyed it
Great way of explaining how it works. I keep getting letters that my 2019 Ford Fusion is in high demand. I owe $20,000 left on the loan, so I’m hoping the value is more than that. Thanks
I through about doing a video just covering those letters! Most of the time it's just a marketing tackle to get you in the door. Sometimes the marketing team don't even tell the sells team so they are clueless when you bring it in.
Hey man I appreciate the video buying a car shouldn't be impossible
This video was very helpful! Only had my car for a few months and I'm already ready to trade it in LOL Let me watch some more of your videos and get educated. You deserve way more subscribers.
Did you already trade your car in?
?
I’m in the same situation right now. How did it go?
Did you ?
Same!!! Its been a month lol
Thanks for the easily digestible information. Something I haven't found anyone cover yet is: how do you protect yourself when trading in a car? How do you make sure the dealer actually pays off the loan? Do you get this in writing? When is it safe to cancel insurance on that vehicle? Etc.
The best protection I can think of is due diligence. You are responsible for the old loan until it is paid off even after a trade. I would track the old loan until I see the balance is zero and if it took more than a week or so I would be on the phone. You should have this in writing but check your state laws. I would be comfortable canceling insurance the day after it is traded because you should have a documentation showing that you sold it to the dealer. Legal owner and debt obligations are not always one in the same.
I got 3 years left
@@DiamondEdwards what about requesting that they cut YOU a check rather than them sending a payment to the loan company? That way you have the money in hand for yourself, to directly make the payment? ...
Very useful information! Was looking to trade in 2017 Acadia for a 2020 Mazda CX-5 BUT I have negative equity. Thankfully I watched your video. Even though there’s one thing about the Acadia that I hate, I’m gonna have to put up with it due to being sooo inexperienced.
Thank you Sandra. Putting up with a very nice 2017 Acadia while you get it paid down/off is a smart move. You don't want one car deal following from car to car. Watch this view for "10 tips to buying a car and not hating life after" ruclips.net/video/m1FE-gyyaJY/видео.html.
Recently traded in my car that had a notes on it. They got the pay off amount but took forever to pay it , now I am billed with the difference of a new pay off balance
8:20 yessss thats what they did to me I was so confused
Ok I have a question. I owe less than what my car is worth so I have equity. I want to trade the car in and upgrade. Can/Should I add more cash to get the payment where I want it after moving the positive equity from my trade towards the car I’m trading it in for and how quickly would I need to check for my loan on my trade in to be $0 paid in full.
Thank you! I’m still learning so if what I asked is dumb then that’s why I want to know. Thank you man! Just subscribed as well party🎉
I'm on it.
Thank you
I have about 5,999 left on my 07 Camry.. and I want it gone. I’m trying to look to sell it for maybe at least 4-5k... this video saved me
That's crazy being underwater on a 13 year old car as of your writing.
@@michaelb.8953 yeah i will never get hit like that again.
Awesome stuff, man. If you are upside-down say, $8000, can you go to one of these buyer dealerships and sell your car to them, and then after that, take that remaining $8000 or so that you owe the bank/lender and roll it into the purchase of one of their cars for sale? I'm trying to downgrade, as my loan and payments are wayyy too high ($710/month) for my 2020 Charger R/T Daytona. So I'd like to sell the Charger and then buy cheaper, with the $8000 still owed rolled into it. Can they do that? Thanks.
I wish I saw your videos 20 years ago.
So does a good credit score help in this situation? Like having a 700 credit score and above? If you really want to get a new car(or a very low mileage used car, years 2019/2020) then you would have to put a big down payment with a little negative equity for a trade-off?
thank you for this advice! Would it be worth it to detail my car before a trade in?
Just a standard Saturday wash/vacuum is all I would do. Make sure you know what it is worth before you go to the dealer.
The trade in and purchase are not separate at all. If you trade in a car for 30k and buy a car for 40k, youre only liable to taxes on 10k difference.
Also Carvana
Diamond is your first name and it's my last name,😁 Thanks for the video and the excellent information. 🙂👍
Cool, thanks
I have a special scenario: Let's say I got a brand new car from the dealership a few months ago, and I now owe about 24k on it, then months later you see that the dealership is selling an exact new make, model, color, and year of your car for about 22k; could I trade in my car for it? If one, my car's trade it value is the same of the new one? Two, can it be from the same dealership that you purchased your new car from? Three, would my 24k be essentially gone since I would trade in my car for their new car and be debt free or would a new loan be started?
BRO THIS VIDEO IS SO HELPFUL, MY QUESTION IS SO IF I TRADE MY CURRENT CAR THAT I STILL OWE ON IN ID STILL HAVE TO PAY THE MONTHLY NOTE UNTIL THE LOAN IS PAID OFF ON TOP OF THE NEW NOTE?
I have the same question man 😂
I only owe 1300$ left on my 2015 civic and I’m gonna a trade it in as a down payment on a 2022 civic. Thanks for the info.
That's plan. Have you ran the numbers if you paid off your 2015 and started investing that car into a S&P 500 fund? Looking 5 years in the future it may make you rethink starting over with a new car payment. Just a thought! Congratulations on getting your car paid off!
Can they roll the negative equity to your new existing loan? Let’s say I have a 6k negative equity and I’m trying to purchase a 20k car will they add the 6k on top of it?
Hello I bought a 2012 mustang coupe premium back in september of 2020. It wasn't a trade in. My car loan is for 5.5. years which is 66 months. My car payments is $350 a month which is outrageous. I been having a buyer's remorseful crisis off and on since october. I'm not planning to keep my car for all 5.5 years so my question is how many years can i trade in my car without refiancing and how many years will i be halfway through my car loan? If you could give me some good advice i would greatly appreciate it. Thanks
I just traded in my car🤦🏻♀️ Wish I seen this video before I made the trade!
Hopefully the damage wasn't too bad!
why?
I wish I say this as well they got me on the trade in and the car loan for the preponderance vehicle I was going for.
You need an email or some sort of way we can drop questions. Curious to get your opinion on my situation and what I should do or what are my options.
It's in the video description and about me page. Reach out.
In my situation my car is just not in a good shape so i doubt most dealers would take except for carmax lol
I got a question. Is it better to pay down the balance and wait a few months before getting a new car, or find the appraisal worth of your car, pay it down to that (or less) appraisal value and then trade it in for a new car (that will be paid off quickly)?
Got the same question tho
@diamondedwards
You are awesome!! I just bought a 2020 Maxima 4 months ago. but I'm not happy with it. Can I email you about possibilities?
I'm not sure you will like my answer but I am always open to help. Check out my about me page or IG.
I got a 2020 Altima this August thinking of trading it for a Dodge Charger lol
Bro, are you available for some 1 on 1 counseling? Email or Zoom? I'm thinking about trading in my '12 VW Jetta for '19 VW atlas. I owe about 4k still on the Jetta. My loan was bogus, I was young and inexperienced and it's cost me thousands. Jetta value ranges from 4-6k. Atlas is 30k. Not trying to get washed again. Definitely taking the time to do my research.
Hit me up on IG@diamonddedwards or email @diamonddedwards@gmail.com
Poppy I will è2SS
I have a 2013 Hyundai Ellantra I got it last year in December 9,000 and since then I’ve have a new baby and really want to trade my car in for something with three rows I still owe 6,000 on my car what would you recommend I do. I open for all options
Thanks bro. I just bought a truck and I want to get rid of it.
What made you buy it? Why do you want to get rid out? What truck did you buy?
I traded my 2016 sentra from carmax with 43000 miles I owe 12600 at 15% interest got a 2021 corolla 32000 at 5%. They were gonna give me 7000 for the sentra but I said no thank you then they went back and dropped 5000 more so it's kinda like they paid my car off.
I was looking into trading my car but looks like it ain’t gon happen 😂😂😂. That’s a lot of work
Hey Diamond, pls how do I negotiate to bring down the vehicle price?
That’s going to be difficult in a market we’re car price increased 20% in value over the past year. I would tell them my price and if they can’t do the deal find another car. Don’t play yourself and over pay for a car. It will hurt later!
Hey, I owe about 4K on my Honda Civic and wanted to see if it’s better to trade in my car or sell it and then get a new car?
If I do end up selling it and still having 4K in loans, can I just pay it with the money I got from the buyer? Or is it a different process?
I’m dealing with that now… I owe $10K on my car and I’m trying trade it in to some dealerships but they all keep telling me no cause mainly sense my loan is still new I took a loan out on the car back in July.. So they telling me I gotta pay it down some more, than lastly not to mention when I got the car it had issues but I didn’t know that.. Now 2-3months later the Catalytic Converter goes out… So my question is it a done deal for me or can I still be able to trade it in?
Thank you so much for this information. I’m actually in the process of trading my 2019 Nissan Versa that has 15k miles on it and the info that I got from this video will be very useful for me
That's what's up. Glad it helped! What are you getting next?
Question- If i made a downpayment at a dealership, and i am paying monthly payments for a vehicle. Do you think the dealership will allow me to trade that vehicle in for a cheaper one even though i havent payed out for the vehicle?
The dealer will do everything in there power to made that trade happen. They will love to help you. Be warned that it is up to you to ensure you are making the best financial move to yourself. They will make it sounds good even if it sets you up for failure later. A cheaper car may or may not be the answer. Please do your research and proceed with caution.
is it wise to look for the car you want an then contact a dealer based on that? Do they offer wiggle room on used cars? I checked with KBB they say 15,559, i owe 18,519. I have hated the car since I bought it. I am eyeing an older car because of all the information I've gathered but looks like they go for about what the trade in value is. Any advice? Thanks for the video
What is the real reason you want to buy a cheaper car? Is it because you realize that cars lose value and you don't want to spend 18.5k on something that is going to keep dropping in value? If so, I would pay down the loan until I can break even, sell the car and go buy a much cheaper car. Drive that for one year I save my old car payment, sell my cheap car and upgrade to something nice. Rinse and repeat.
You can negotiate any car deal. You have to find out what the car you are buying is worth so you set realistic expectations on what price you can get. I like to use autotrade and search nationwide for the car I want with similar miles and condition and use that car as a reference point. Use autotrade, truecar, cargurus, etc. The easy way is to negotiate via email with the dealer and setup an appointment to go in once you have lock in the price. This does not obligate you to buy the car. You still have to follow common sense car buying advice to make sure you don't get ripped off.
You will need to come up with a different between what you owe and the loan balance don't roll this into your next deal. Check out this video on 10 car buying tips ruclips.net/video/m1FE-gyyaJY/видео.html
PS If you ever need to buy a car that you hate to get you from point A to B buy as cheap a car you hate as you can find. That you way you lose little to no money on the deal. Just my 2cents
@@DiamondEdwards Thanks so much for your response. I had a 2015 toyota corolla and honestly loved it. It did exactly the job I needed to do and I enjoyed driving it. Then my sister needed a car and since I was done paying mine and she was in a rough spot I gave her mine. I jumped to quickly into purchasing a 2018 camry $24000. I hated it immediately but I didn't know I could take the car back so I kept it. its not a fun ride because its so long and feels more like a mom car than what my style is. Plus now two years later seeing that I will continue to pay on a car I dread having to drive (first world problems) I have been watching more videos on trading in. I see it as why pay towards a car I hate when I can at least put that money towards a car I don't mind driving. But if there's no way to break even with the trade in sounds like I'm better off just dealing with it and paying it down.
@@DiamondEdwards the car I really wanted was a 2012 Toyota RAV4 4 because I think that was the best the model has looked and drove one and I enjoy the ride too. But everyone said not to do it because it was too old of a car.
Definitely the best option is to deal with it and pay it down. Most other options are going to compound the problem later. People kill me telling folks a a 8-10 year old car is too old or 100k miles is the magic limit. Looks around as your driving down the road and you will see cars much older than that still getting people where they need to go. I have a 10 yr old car with over 130k miles and I trust it the same as the truck I bought brand new 4 years ago and guess what, it has 60k miles. Is it any less dependable than a new truck NO! but somebody out there will tell me different.
Check out @scottykilmer or @chrisfix to learn a ton about cars. Also, you can look into auto repair class at your local community college and that will save a tens of thousands of dollars in repairs over your lifetime. You will never be scared of an older car again.
What if I am going into the dealership with money down that is more than my negative equity? Would that still help my trade in to get that credit on the new vehicle I’m willing to purchase?
Like I said in the video treat this as two separate transactions. If you have negative equity part of your money will be use to pay that. If you have any money left that is your down payment. Negotiate the out the door price of the new car, once that is in writing then negotiate your trade. Once you have the deals negotiated its okay to write it up as one transaction. They will try over and over to combine these transactions early in the process because its harder for you to see what you're getting for your trade and what your paying for the new car. This is how people screw themselves everyday on car lots across world. Do not let this be you. ruclips.net/video/m1FE-gyyaJY/видео.html
I have a 2018 Chevy Colorado I owe 22k but it’s worth 25-27k and want to trade it in for a Tacoma any advice if I should wait or maybe buy a used Tacoma for 20k?
It's always nice to have positive equity. The question becomes what do you want to drive for the next 5 or so years and how does this car purchase fit into your overall financial plan. Are you trying to get out of debt? If it was me and I wanted a Tacoma really bad I would find one equal to your value (out the door) so it is a even swap. Or I would get the Colorado paid off and start focusing on building my net worth so later I could buy and drive whatever I wanted without thinking much about it. That's what I am doing now that I paid off my truck. Which way are you leaning?
So would you get trade in value if your car is in the negative by like 1 grand?
Someone please give me advice I’ve never had a mentor but I would really appreciate it. So I have a Kia 2018 optima which was financed through dealer I got a 4 something rate now I still owe almost 21k and now I need a 3rd row so I’m going w the pilot. The credit union already pre approved me for 45k at a 2.61 % rate idk if I should refinance rn or just trade in due to inflation but I really want to just get rid of it I seen a nice pilot the black edition for almost 41K I just want to make a good decision I am also willing to put money down I’m thinking 3,500 to 4,000
what if the small loan balance is in Collections on a car you owm, can you still purchase a car? Which is not the best idea to do!
Sure, I would buy a cheap car to get you from point A to B and use the money you don't spend on a new car payment to pay off your old debts. Once that is clear up its become easier to save for a nice car. It's hard to do anything when you are saddle with hefty payments.
Do you know what would happen if I wanted to trade in a financed car that still has money owed on it, but the cosigner I had for the original car has died? It's a 2015 Nissan but I finance it through Carmax
Sorry for your lost. As long as the title is not in the cosigner name the trade should be straight forward. The dealer send a check to bank for the trade in amount and you are responsible for the different unless you trade value is equal to higher than your loan balance.
I have a 2019 Kia stinger base model but it has added features like sun roof and better sound system like Harmon i owe $25,000 and on KBB my trade in value is 27,000 so is that good for me to trade in for a Dodge Charger scat pack? Also carmax offered $28,000
I think you should I’m tryna get a scat too .I just bought a charger sxt2015
Do they add on the taxes ?
I got a car I just bought and have payments but I have engine problems already after a month now I wanna trade it in I’m probably definitely gonna be upside down I’m only a month in
Great video bro! I currently have a 2016 Honda Accord Sport which I still owe about $20,000 but was looking to trade the vehicle for a used 2017 Infiniti Q50 Red Sport 400 which cost about $27,000. The trade in value of my vehicle is about $16,000 on KBB so this would result in negative equity correct? Do you think the dealership would pay off my existing loan or would I have to place a large down payment. How should I go about this?
Thanks Richard! Yes that means you are $4,000 in the hole with negative equity. This money has to come from somewhere and it will be you. The dealership will pay off your existing loan because that is the only way they can get the title. You can pay the $4000 as a downpayment or you could agree to purchase the $27,000 car for $31,000. Don't forget about Tax, Title and License so maybe $35,000. But remember with this option from day 1 you are $4,000 in the hole and will go deeper each month. Think about the next time you want to get another car. The way I would go about this is pay the negative equity and put a nice downpayment on the new car. More importantly, I would take a step back and see how this purchase impacted my 5 and 10 year financial goals. Do it take you closer, farther or have no impact on your goals. This is what I didn't do in 20's and it costed me 100's of thousands dollar. I hope this helps. Check out this video car payments: ruclips.net/video/cUotQTUU-d8/видео.html
Diamond Edwards Thank you very much for your response! I will take your word for it and avoid being $4,000 in the hole and just keep my current vehicle until it is paid off. I do feel like it will have a negative impact on my financial goals and be really difficult for me to manage down the road. Thanks again I appreciate it!
@@richardlorenzo5142 No problem! The latter part is what I feel people forget "How does this impact my future plans"? That was my motivation behind creating this channel to get more people looking at the big picture so that we can all get to where we want to go. Thanks for supporting the channel.
How do i kee track if the dealer chooses to pay off the auto loan
After this video I decided to refinance my car
I’m glad it helped.
Hi diamond,
I hate my car(2017 CRV) and want to get a 2021 Venza. According to KBB and NADA is is worth around 20k. I owe 9k. How do I approach the dealer? Do I tell them I plan on trading in my car and show them the KBB/NADA/Carmax appraisal, or do I negotiate the price on the car(with them thinking I am not doing a trade in but rather financing), then tell them later that I plan on trading in? Does it matter? I feel like if I tell them I am trading in at first, they will somehow try to take advantage in some way.
Everything is separate! (Purchase, trade-in, payment) First, negotiate the purchase price of the car. If they ask about your trade just say "I need to see if I can get a price on this new car that I'm comfortable with before I can think about a trade". DO NOT LET THEM COMBINE THIS INTO ONE NEGOTIATION. Once the price on the new car is set then negotiate the trade in. You can get one of those instant quotes online from autotrade/kbb and use that as a with the KBB/NADA values as a baseline. Once you get the price for your trade that you are comfortable with and move to the finance office to close the deal, this is where you negotiate any fees and extras. Don't buy any extras gimmicks. If you do not get the price you want or the amount for your trade that you want WALK AWAY AND DON'T BUY A CAR THAT DAY. There are millions of Venza produced and thousands of dealers. DON'T SIGNUP FOR A BAD DEAL! Be sure to test drive this car and be sure you want it before you go through all of this.
Watch this video covering 10 tips every car buyer need to know: ruclips.net/video/m1FE-gyyaJY/видео.html
It would go against what this channel stands for if I didn't say this...Take a step back and look at your complete financial picture and ask yourself where do you want to be financial 3 yrs, 5 yrs and 10 yrs from now. What is the impact of purchasing a brand new car on those goals? How do does it fit the plan? Are there other options that can meet your intend? Also, why do you hate your current car and what changed? You don't want to be buying new cars every few years if you can make the payments with no problem. I hope helps! Thanks for supporting the channel!
Diamond Edwards thanks man for the help. I bought the car because my ex wanted it badly. I’m not with her anymore. I agree car payments suck because I really can’t stand driving it anymore. I usually keep my cars for 10+ years. I have no debt other than the car and mortgage and have 6 months emergency savings funds so I am in ok shape
@@kermit1 I had to put it out there. Have what we call a solid foundation! My goal on this channel is to help more people get to that level and get into investing! Thanks for supporting the channel!
Diamond Edwards thanks dude. Love your voice too(no homo) you sound so excited when you talk.
Thanks
I have 2018 Nissan Altima but want to trade it in for something a little older maybe a 2015 or 2016 Kia optima or Chevy impala
Why? Isn't all those cars around the same value as the Altima?
ahh im offing scared man haha lets do this
If i was to sell my car to autotrader for one of their offers and i still have an outstanding loan on my car (its financed and not paid off) do i need specific paperwork for them to sign when they come pick up the car?
Most likely the dealer will handle the paperwork as they do this everyday. Just remember you are on the hook for the old loan until it is closed out. Track the loan until you see the balance is zero. Do not just sign some paperwork, toss them the keys and never think about it again (even if thats how you feel)😆
@@DiamondEdwards how long Will it take for the old cars loan be paid off by the dealer for the new car?
So let’s say the car ur trading in is worth 17k retail an sell it for 14k
An the car ur getting is 16k
Am I paying 2k for the car bc I sold mine or am i paying the rest of the car as if I was still paying for the first car I got?