I bought my Prelude about 3 months ago and I am at the point where finances are becoming a pain for me. I owe about 9,980 on the car and I am having some financial problems. I found a 1995 Si Prelude for about 5750, which is around what my prelude is worth on trade. Now, will the dealer pay off my prelude and I start making payments on this car?? Will it work or no??

 

Ask the dealer or your parents.

 

Doesnt work that way.

You are what is called "upside down" meaning you owe more than the car is worth. You are better off to sell it private party and make up the difference.

The dealer might pay off your trade but then you will still owe them the same amount of money only driving a different car.

This is a good example of why, when it comes to older used cars, if you cant pay cash you cant afford it.

Sorry there isnt better news.

 

^x2