6 min readIf you want to trade in a car that you still owe money on, the equity in the car is important. If the car is worth more than the payoff, the difference can lower the price of the next car. If it's worth less, you have to pay the difference up front or add it to a new loan. Before going to a dealership, make sure you know the exact payoff amount, check the trade-in value with guides like Kelley Blue Book, gather all the paperwork (registration, insurance, service records, payoff letter), and negotiate the trade-in value separately from the new purchase so you don't end up with negative equity.
Continue reading "Trading In a Car With a Loan" → 
