Question #27618

I have a car on finance which I m part exchanging what will happen to my positive equity?

Right I m part exchanging my car for 5000 the final finance payment is 4284.24 so I have a positive equity in the car. I m financing a new car but not using the positive equity from my part exchange as a deposit, will the money just be transferred to me.


In order to sell or trade any car that has any outstanding loan balance on it, that balance MUST be paid off IN FULL FIRST.

  • nt

Usually when you trade cars, you lose much of your equity. You could get cash if your credit is good enough I suppose.

  • Dobiegal

usualy put into your bank account by wire transfer

  • Poppy

No, it will go towards the existing loan. It will be wired into it, our job is to find where. You will get no cash back.

  • ?

Pay cash

  • AlCapone

In a trade in which you have positive equity, you can either have the dealer cut you a check or apply it as a down payment on your new car.