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alonsoflor

Question in regards to negative equity

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This may be a silly question, but I'll ask anyways... My car has a good chunk of negative equity. Does it make a difference if pay the difference to my loan holder (Wells Fargo) or pay the difference in the trade to the dealership?

 

Thank you!

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If you use the finance dept at the dealership, then you should pay the difference there. It might result in lower rates/better terms.

 

But other than that, is 6 of one, 1/2 dozen of the other.

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If you use the finance dept at the dealership, then you should pay the difference there. It might result in lower rates/better terms.

 

But other than that, is 6 of one, 1/2 dozen of the other.

 

Got it and thank you my friend oso!

Edited by alonsoflor

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A deal that includes cash money down from the customer always looks better to a finance company. Though if you have the cash to cover the negative and are willing to put up with the hassle, you could potentially get more for your old car by private-selling it.

Edited by mk_378

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Really a non factor if you have good credit any way. And you would most likely get more selling privately.

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