TV trade in....
Good morning everyone hope all is well ! I was curious what some of you may have done if you were in the same position as the wife and I... i apologize for the long winded response! Anyway.. back i...
Forum Discussion
Walaby wrote:
If you rolled your negative equity from the Duramax into the RAM, I would question seriously whether or not after 3 years on a 7 year loan, you would have any equity built up. You're probably still paying on your Duramax.
If you do manage to have some equity, I doubt it is 5K, much less 10K
You can get a blue book estimate of what your truck is worth trade in today. Get an idea of how much negative equity you are still dealing with. If you can make extra payments to knock down more of the loan you're better off.
If it were me, come trade in time, I'd get my loan paid down to some number below low blue book trade in. You are negotiating from a position of weakness if you show up with a trade that still has negative equity. Once you have the value down below low blue book trade, use the rest as down payment on the new truck. Make sure they give you at least enough (preferably more) than you still owe on the Ram. Don't accept any roll over as long as your value is below BB.
Mike
based on the deal, and how much we paid down on the duramax, we actually got out free and clear. If i remember correctly, loan was for 75,000$ cdn, so we actually had a slight downpayment coming from the duramax.
