Quote:
Originally Posted by Labeef
Yes and No. The issue is, you owe more than the car is worth. You'll have to roll over the remainder of the value into you next car. For example, lets say they give you $70k and you owe 76, the remaining 6k will be added to your next loan. In addition, the dealer is a business, they need to make money on the trade, expect a 15-20% hit from retail value. Unless your trading in for a 750il or another car that the dealer is having a tough time selling, you're going to be upside down.
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I get the upside down part. But if I trade to a dealer is it 72k or 76k as my payoff.