Okay, I bought this car that was worth 36,000 back in 2008. I checked the bluebook on it and it was 27000. The car I want to buy is 32000 approx. Is it possible to trade in the car? And if so, how would it work out ? Thanks.|||it's a bad idea, it will only put you further in debt, when you trade it in they won't give you near what it's worth.
pay off the car you have then think about what comes next
seriously only the finance company comes out ahead in these type of deals.|||Selling Price: $32,000
Trade In Value: $27,000
Taxable Diff. $5,000
Sale Tax: $438.00 (for example at 9.75%)
Amt. Owed on Trade: $26,400 (estimating 400 for 24 months paid)
Subtotal: $31,838 (taxable diff. + sales tax + amt. owed on trade)
Down payment: $3000.00 (for example, maybe more or less)
Balance to Finance: $28,838.00
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