Question for car sales people-?

Question about trading in a car?

• Ok so i have a 2004 kia optima that i still owe approx $3150 on [10 months],the only problem with the car has is the shifter/ignition wire is torn and the key won't come out..they quoted be $800 to fix....well i want to get another car,not brand new..i was looking at a 2005 Dodge Srt-4..i saw them at dealers for about $10-13 K..depending on mileage..i can probably drop 1K down paymen maximum..but my question is,due to the economy and the lack of auto sales,if the majority of dealers would be willing to take my car,pay it off,give me the difference [if any] as down payment value..and add on the $3150 to my total contract towards the new one...? pretty much they'd be doing me a favor by paying off my car and allowing me to get a newer and better one but they'd still make profit..any help? particularly from auto sales people?? thanks!!

• Answer:

  Its not up to the dealers, they would take every "upside down" customer they could get. Its up to the banks to finance you. banks don't want to lend you way more than your new car is worth because then you have no incentive to make the payments the first time something goes wrong.