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370zFTW · 05-03-2012, 01:27 PM

Quote:

Originally Posted by nepali

So, if I have this correct, you still owe $27k on your loan, right? And, you are thinking that you will get $22k for your Maxima, right? If so, then, you will be sitting at $47k (total loan). Plus, the insurance will be very high for you.

But where would my trade in go to? I know it goes to the 370z but it wouldnt knock out 20K off the new Z?

nepali · 05-03-2012, 01:30 PM

Quote:

Originally Posted by 370zFTW

But where would my trade in go to? I know it goes to the 370z but it wouldnt knock out 20K off the new Z?

Think of it this way. Say you had no car to trade in and you were just buying a brand new Z. Your total cost would be $42k, correct? So, now, you already have $27k loan. Dealer agreed to give you $22k. You pay $22k on your existing loan leaving you with $5k. Now, add $5k to $42k, and you have $47k. Does that help? What you are doing is forgetting your existing loan.

864Zbeast · 05-03-2012, 01:34 PM

Quote:

Originally Posted by 370zFTW

But where would my trade in go to? I know it goes to the 370z but it wouldnt knock out 20K off the new Z?

Really man I'm 20 too? Your payoff on the maxima is 27k, correct? If you can't sell it for 27k then you will owe the finance company the difference if you sell privately or if you trade in the difference will be applied to the cost of the new car.