If I have bad credit, can I trade a used vehicle for another used vehicle?
June 14th, 2010 | 
Author: skiddly diddly asked:
I’m assuming a credit check will prevent me from borrowing the money, but since I already have a car loan in good standing, could I actually get a different vehicle? I want to trade an Avalanche for a Suburban a year or two older, with approximately the same value.
bad credit car loan
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bad credit car loan
As one time car salesman I can tell you a dealership will never put as much value into your trade in vehicle as anything similar that they may have on their lot. If your not upside down on your current vehicle loan then they will work with you but remember these dudes will try to squeeze out a commission any way they can.
bad credit car loan
Forget it. You will want to sell you car and start paying off the loan.
Instead of a new car, take the bus or a bicycle for a few years.
You’re never going to get anywhere near the listed price for your car, so your idea is bogus to begin with.
If a car similar to your current one sells for $5000 from that dealer for
example, don’t expect to get more than $3000 when selling it to him.
He has his cost, his taxes, his margins, etc. etc. to take into account.
Instead of trying to get yourself deeper into depth, get rid of the debt you do have.
bad credit car loan
It doesn’t work that way. The car you have now and theloan that goes with it are mutually explusive. You can’t trade the car and keep the old loan.
The only way to get a different car is to pay off the old loan and apply for a new one to pay for the new car.