Let's say I want to trade in my car and i owe 17k on it and the car I want is 19k. Let's say the dealer wants to give me 16k for my car. Do I have to pay or finance the remainder (3k)? Or do i still have to finance or pay the full 19k amount? Sorry for the dumb question but i don't know the process for trade ins.

 

EDIT> I take back my previous answer.

 

you would finance 20k plus aplicable tax and licensing fees

 

http://www.edmunds.com/apps/calc/CalculatorController

use this link. great tool.

 

Oh **** I read it wrong my bad.....All hail drew...

 

Very cool, thanks Drew

edit: also thank you Bryce

 

I tried to trade my 03 Z in and they only wanted to give me $9k. Good luck!!

 

Wow thats a new low!

 

Correct. You just roll the negative equity into the next car.

However with tough times like these, I would have to imagine you could probably talk them into paying you the 17k to get their 19k car...or say, fine I'll take 16k but I'll only pay you 18k for yours.

Just be prepared to walk away...not a lot of cars are selling right now.

 

Dude, YOU JUST GOT THAT CAR!

 

Which Altima are you trading in?

 

went to trade in on sat they wanted to give me 11,500 with my rh rims and 10000 without. 2004 with 54000 miles.

 

I'm not trading anything in. my brother in law is debating on trading in his car.

 

you also do get a tax credit when trading in a car. The tax credit means you only pay the difference between between the new car and the old car. In your instance you would only pay taxes on 3k (about 250-300 bucks instead of the full $1800). That helps out quite a bit when trading in a car. I can also get you guys the correct numbers on your cars when trading them in. I have a program on my computer here at work called Mannheim auto auction reports that all the dealers use to price their cars when taking a car in on trade. Just need the first 10 didgets of your vin and I can tell you the correct numbers.

 

I hope you told them to fukc off.

 

Which rims?

 

gtc's if i remember right

 

yea I was like you want to give me what? Try again thats not even close. Then they come out and are like we can give you 11,500 but we want you rims. I said your kidding right thats worse then before. Yes they are gtc's. I figured trade in would be around 13,500 to 14,500 stock but whatever.

 

I was able to get $16,000 for my 2003 Touring 6MT (56,500 miles)and I left the GTC's on it. I was trying to sell it for over a month and decided to just trade her in. I also had the Nismo S-Tune suspension and some other mods on it as well. The dealership originally offered me $12k but I was able to talk the price up and at the same time talk down the price of the car I wanted.

 

i tried selling my 2003 touring for almost 5 months, i finally gave in and traded it in for 15K