I want to trade my new car for a used one. I owe 16k and the kbb value is at 20k-23k.?

would the difference be carried over to the used car?|||Well...here is the deal.


KBB value is only for your reference.


You can buy your car at that price, but you won't be able to


sell it at that price.


And also there are price differences btw regions.


Anyways....lemme tell you how we work.


I'm a used car salesman / used car wholesaler / New car broker.


We usually buy cars from customers below the wholesale price because of several reasons.


We are not here for charity. We are here for business.


We sell cars at wholesale price. What should we do if we buy'em in wholesale price? You are right! That's no business.


So we usually buy'em below wholesale, and that's usually how the market goes around here in California.


And of course, our customers buy'em at wholesale price. Maybe lower.


Now I don't know how much your car is worth. There is a market value that dealers usually go by.


Now....if that value is higher than the pay-off balance, of course you'll get your difference.


If that value is lower than the pay-off balance, you have 2 choices. Pay that difference, or put the difference on top of the car that you are planning on buying.


Now this transaction, we call it trade-in.


And of course, as I said it before, the difference naturally gets carried over. But it's up to you. You can request cash if you'd like = )


THIS IS AMERICA! WE ARE FREE!!!! = )


Anyways, that's my answer.|||You are $4,000 - $7000 upside down on your loan -- not a good situation.





You may find a dealer who will roll the $4K - $7K into a new loan for a used car, but then you'll be even more upside down in the new used car -- a worse situation. If you ever sell, trade, or total your car, you'll have to come up with one giant wad of cash to pay off your loan.|||KBB means nothing on a car lot. it is a guideline, and most times people overestimate the value of their trade. notice that there is no 'print check' button on KBB? that's because they know you have over estimated the condition of your car.