bank loans

Asked by BOB May 17, 2019 at 05:39 PM about the 2011 Mercedes-Benz M-Class ML 350 4MATIC

Question type: Car Selling & Trading In

Im upside down on my existing car by about  $7000



i am upside down on the car I want to trade in.

how much will a bank lend on the related car and what will i need for a down
pament to make this deal work

2 Answers
390

Brett answered 5 years ago

the bank will not give a loan for greater than value of new car. Sell you old car via private sale, this will help get best selling price. But this wont make up $7000 If you trade in your car you'll get significantly lower price than car is worth. Maybe try a lease and see what you can roll into that

Mark helpful

F_O_R answered 5 years ago

You will probably need to pay longer on your car before you attempt to roll it over.

Mark helpful

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