Appraising a car happens when a dealer gives you an actual cash value price for your trade-in. It’s a simple procedure, and doesn’t take long to complete.
Continue ReadingAppraising a car happens when a dealer gives you an actual cash value price for your trade-in. It’s a simple procedure, and doesn’t take long to complete.
Continue ReadingShould you keep your car and pay it off, or trade it in and use the equity as a down payment on your next vehicle? Both are viable options, and it ultimately depends on what you need and want out of your current car.
Continue ReadingTrading in a car on a bad credit auto loan is something that you can absolutely do. One thing you have to be careful of, however, is trading in a car in which you have negative equity.
Continue ReadingRemember, if you still owe on a vehicle, the lender owns the car and, in most states, holds the title. Many states make it illegal to sell a vehicle without a title. If you’ve lost the title, getting a replacement is a relatively simple process. But if you don’t have a title because you didn’t pay off your loan, you’ve just sold a stolen car – which is certainly illegal.
Continue ReadingSince most problem credit lenders require a down payment, you'll need enough trade equity for the down payment. If it isn't enough, the difference can be made up in cash. But if you have a negative equity trade, you'll need to come up with a cash down payment plus enough to cover the negative equity in order to meet the down payment requirements of the lender.
Continue ReadingA press release from Toyota this morning announced that the Prius had just surpassed the one million mark in world wide sales. This begs the question, “would the Prius be a good car for a bad credit car loan?”
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