I want to sell mazda rx8 but i havent finish to pay it off?
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hi i have 2 questions i want to sell my 2004 mazda rx8 53k miles on it and is good condition i paid 15k for it 6 months ago i went to kkd.com i think is the website and they value my car for around 9k if i trade it bu here is my question if i want to get another car lieke a 2005 gt mustang and is around 17k$ and the dealer just paying me 9k$ for my car do i have to pay them the 8k + the 5k that i still owning from my car? so will be 13k$ or: can i just sell the car to the dealer even if i havent fisnish paying the car? and then pay by month the rest of the value?
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Answer:
Since u just brought your car you have negative equity in it. From taxes, fees, etc. So you will most likely be upside down in your trade, however, most dealers let u carry the negative equity to your new purchase. I dont see u getting in a 2005 gt mustang with 6k negative equity carrying over. You need to get a new car with a rebate maybe a 2008 mustang to eat away the negative equity.
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