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09-09-2009, 01:33 AM
Maybe someone can help me out with this. My gf has a car she is wanting to trade in for another one. She still owes on her car. How do these pay off things work?
LOL hopefully some one understands what I'm asking.
LOL hopefully some one understands what I'm asking.
09-09-2009, 01:36 AM
How much does she owe and what kind of car is it? Basically say she has a car worth $10,000 but she owes $12,000. That means she has $2,000 of negative equity. Say she buys something that is $15,000. That means she has to finance or pay the $15,000 plus the $2,000 of negative equity she had. So it pretty much just adds on. If her car is worth more than she owes, she has positive equity so things are reversed. If it is worth exactly what she owes, it just kind of cancels it out. PM me and tell me what she is interested in and details about her car. My whole family is in the car business.
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