There often comes a time in your life when you want a new car.\u00a0 The desire is sometimes merely the result of wanting something fresh and new, and sometimes you just can’t rely on your current car.\u00a0 This is a very normal urge, and it sometimes comes attached with a very normal concern.\u00a0 What do you do if the vehicle you have is worth less than what you still owe on it?<\/p>\n
Well, here is your answer:\u00a0 when possible, the money you still owe on your trade (above it’s trade-in value) is worked into the payments on your new car.\u00a0 Other times, a larger down payment will make up some or all of the difference.\u00a0 There are times when the amount owed is so large that there is no way to compensate for the difference.<\/p>\n
How do you find out?\u00a0 The first step is to contact your lender and find out the “payoff” on your trade.\u00a0 This simply means how much it would cost to pay your car off in full.\u00a0 It is NOT the same as the total of your remaining payments, because you will\u00a0be saving finance charges.\u00a0 The next step is to bring your trade to us and let our professional vehicle appraiser look at it and determine what it is worth.\u00a0 At this point, we’ll have enough information to tell you pretty quickly whether or not we can help you with your financial burden.<\/p>\n
Just call us at 757-282-5616 to set a time to bring your trade in and we’ll answer your questions in a timely manner.\u00a0 We hope to see you soon!<\/p>\n","protected":false},"excerpt":{"rendered":"
What do you do if the vehicle you have is worth less than what you still owe on it?<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/posts\/12"}],"collection":[{"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/comments?post=12"}],"version-history":[{"count":3,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/posts\/12\/revisions"}],"predecessor-version":[{"id":15,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/posts\/12\/revisions\/15"}],"wp:attachment":[{"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/media?parent=12"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/categories?post=12"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cavaliermazda.com\/blogs\/47\/wp-json\/wp\/v2\/tags?post=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}