How to replace my truck?
Posted by Various-Indication58@reddit | askcarguys | View on Reddit | 6 comments
I have a Jeep compass latitude 2017, I have paid 8,000 on it already, and have about $7000 left to pay off. Honestly, I want a new truck because the size of this one, I’m not quite fond of anymore, and there are other things about it. My main question is how do I turn in my truck for another, or can I, how does it work? No one around me seems to know. Could someone explain this process, would I be upside down on payments owing on the old truck? I do have good credit.
Sumater@reddit
Truck?
Broken_Cinder3@reddit
My ex called her escape a truck. Always bugged me a little. This bugs me a little less than that lol
Various-Indication58@reddit (OP)
lol you know actually before I posted this, I thought about not calling it a truck…
chibicascade2@reddit
Use something like Kelly Blue book to figure out how much your jeep is worth, then go to a dealership that has what you want and ask about trading it in. If you owe more than the car is worth, you can roll it into the new loan, but it may increase the interest rate, or limit you on which banks you can get a loan from.
Icy_Huckleberry_8049@reddit
If you owe more on your current truck than what it's worth, they'll roll that into any new payments.
Yes, you can trade it in, millions of people do it all the time.
Just remember that you'll get a wholesale value for it, NOT retail value for it.
Bubbly-Pirate-3311@reddit
Insurance fraud