Hey guys! I had a question that i was unable to find the answer to. I'm interested in trading in my civic for a 5 speed.

Q: If you trade in a car that is worth more than the car you are purchasing do you get cash back on the trade ,eventhough, you may owe money on the car you're trading in? phew.

I apologize for the confusion involved in the question. Thanks in advance for the responses.

 

No if you still owe money on the car that you are trading in. The dealership will give you blue book for it. After that if you owe more then Blue Book on the car. They will usually do what is called a Rollover. For instance Let's say that you have a car that you paid 17,000 for and now it is only worth 13,900 but you still owe 16,000 on it. And the car you are getting is 15,000 they will then rollover the remaining 2,100 over on top of the 15,000 so now your 15,000 dollar car is gonna cost you 17,100 because you have a negative equity. Hope that helps you.

 

Thanks that helped a lot ...not excatly what i wanted to hear though.