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How to Trade a Car When You Owe More Than Book Value
- Step 1 Determine how upside down you are in your auto loan -- the difference between what you owe on the car and its current market value. ...
- Step 2 Look for a new vehicle, either a less expensive car or one with a rebate offer. ...
- Step 3 Explain your negative equity to the dealer to explore your options. ...
- Step 4 ...
budgeting.thenest.com/trade-car-owe-book-value-21482.html- People also ask
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WEBThis means you’re likely in an equity position, which means it’s worth it to trade in your car that you still owe on! But, if you owe more on the vehicle than its estimated value, that’s called negative equity, also called being …
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