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  • isellhondas 06/30/09 6:02 pm PST

    Well, it sounds like you have 5000.00 in negative equity in your trade in.

    You will need to write a check for 5000.00 to get even. Then, what about a down payment on the car you are buying?

    That dealer may be able to bury some of that 5000.00 by rolling it into the new car loan but do you really want to do that?

    That 5000.00 doesn't just go away!

  • boomchek 06/30/09 6:57 pm PST

    Like Isellhondas said, your $5000 of negative equity will get rolled into the new loan. most leases won't allow negative equity so financing might be your option.

    So now you're going to finance a $35000 car but have a loan for $40000. The monthly payments will depend what interest rate you'll get, and how long of a term you'll choose. It all depends on your credit too.

    If you finance $40000 over 60 months with $0 down at 9.9% your payment will be about $847/month.

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