How Do You Roll Money Into A Car Purchase?
When attempting to trade in a car while purchasing a new one, you may discover that you have negative equity; that is, you owe more on your trade-in than it’s worth. You have a few options when this happens, one of which is rolling your negative equity into your new car loan, lease or purchase. Your ability to do this depends on several factors, including your credit score, the cost of the new car and how much negative equity you have in the trade-in. Step 1 Find out how much negative equity you are dealing with. To do this, you need to know what your vehicle’s payoff balance is. That is the amount you can buy your vehicle for outright. Then have the dealership give you a trade-in estimate on your vehicle. The amount between what you owe on your loan and what you can get for your vehicle is your negative equity. Step 2 Ask the salesperson about special offers. If a specific model has a huge cash-back incentive from the dealer, rolling your negative equity into a loan might work for you
