Car Payment/ Trade in Question

ddvette9 · 03-06-2012, 06:45 PM

I owe approx 10k.

Trade in value/ private sale is around 20-25k

Looking at g37 coupes around 20-25k

Not sure how the finances work as this is only my second car and my first one was paid off before i bought my Z.

Do I just trade my car for an infiniti as close in price or do I have to subtract what is owed on the car from the new price of my new car.

If someone could simplify my math or give me an explanation on trading/upgrading/selling when you still owe some money on your car towards the purchase of a new car.

PS- this is just an idea, not ready to trade yet, but contemplating due to personal lifestyle reasons with family and business and travel

Mike · 03-06-2012, 07:17 PM

Hypothetical round numbers.

You owe 10 on your car, they give you 20 for it.

You buy G for 25.

They will take 10 of that 20 and pay off your Z and the other 10 towards the G, so you will finance 15 on the G, plus tax tag and title, of course.

kenchan · 03-06-2012, 07:26 PM

+1. Wat Mike said.

03-06-2012, 06:45 PM	#1 (permalink)
ddvette9 Track Member Join Date: May 2009 Location: Florida Posts: 823 Drives: 2013 Scion FRS Rep Power: 16	Car Payment/ Trade in Question I owe approx 10k. Trade in value/ private sale is around 20-25k Looking at g37 coupes around 20-25k Not sure how the finances work as this is only my second car and my first one was paid off before i bought my Z. Do I just trade my car for an infiniti as close in price or do I have to subtract what is owed on the car from the new price of my new car. If someone could simplify my math or give me an explanation on trading/upgrading/selling when you still owe some money on your car towards the purchase of a new car. PS- this is just an idea, not ready to trade yet, but contemplating due to personal lifestyle reasons with family and business and travel

03-06-2012, 07:17 PM	#2 (permalink)
Mike The370Z.com Sponsor Join Date: Jun 2009 Location: Loganville, GA Posts: 5,944 Drives: 370z Rep Power: 2185	Hypothetical round numbers. You owe 10 on your car, they give you 20 for it. You buy G for 25. They will take 10 of that 20 and pay off your Z and the other 10 towards the G, so you will finance 15 on the G, plus tax tag and title, of course. __________________ NISSAN: 75 280Z / 86 300ZX GLL /87 Sentra SE / 03 350Z / 23 Z Porsche: 93 968 / 23 Macan GTS / 93 968

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03-06-2012, 07:26 PM	#3 (permalink)
kenchan A True Z Fanatic Join Date: Aug 2009 Location: N/A Posts: 76,801 Drives: N/A Rep Power: 141520	+1. Wat Mike said.