Doing a paper trade with a dealer on a 2003 touring tomorrow trading in my 2004 bmw 330xi

Just a question to you out there who have experience buying cars with loans still on them.

The car lot is buying the 350z I want then buying mine so it will be considered a trade and I save tax but the 350z still has a loan on it so will that be taken care of by the dealership already?

If you trade in your vehicle to take a new vehicle but yours still has a loan on it the dealership always takes care of it but would it be the same in my situation?

 

yeah they take care of the paper work.... hence dealership

just make sure you know how much your getting for your BMW
and make sure you know how much your paying for your new Z

dont let them confuse you with numbers.... get explanations on any extra "fees/costs"

 

do you mind if I ask you a question op? Sorry i can't be of help, but as you said earlier, if I still have payments/loans left on my z, and I want to trade it in at the dealership, and lets say kbb says my z is worth 20k. How much would the dealership offer me if I have lets say 10k left on the car? Theoretically would they only offer me 10k then since they have to take care of the 10k loan left?

 

they would in theory pay the 10k to the loan company, and the other 10k to you, i think.

 

I think this is correct, assuming 20k is what they would offer you if you came in with the title in hand. Only one way to find out!