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Should we trade in 2 vehicles for 1, have outstanding loand on both?

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  • Should we trade in 2 vehicles for 1, have outstanding loand on both?


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Answer #1 | 19/12 2013 14:23
You are upside down on both cars but could possibly break even on them if you sold them yourself instead of trading them in. Trading them in is basically saying you are too lazy to try to sell it and you don't care about the $2,000 you just lost. I would say try selling both cars for what you have left on the payments and then buy a cheap econo car. thats just my $.02 though.
Answer #2 | 19/12 2013 14:47
You told us the trade in value but not the loan amounts you still owe. If your upside down on the notes then just sell one for as much as you can and then pay the remainder of the note off in cash.

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