Im a trying toTrade in my truck?
That depends on the actual value of your truck and the amount you still owe on it. Go to Kelly Blue Book’s web site (listed below) and look-up the trade-in value of your truck. They’ll ask a lot of questions about your truck. To get an accurate value, answer as many as truthfully as you can. Knowing the actual value of your truck will give you an idea of where you stand. A dealership’s ability to absorb a negative equity depends on the amount of negative equity (amount owed on trade-in minus the actual Blue Book value), the value of the vehicle you want to purchase, and your credit score. Unless it’s a second-rate dealership which intends to carry the paper itself, then the dealership has to be able to find financing for you to make the transaction. Most of the time the dealership uses the value of your trade-in as “money-down” towards your loan. Lenders like the purchaser to be “vested” in the loan…