I have a 2012 ford fusion that I owe 19k
on but it's only worth around 13k.
I'm looking at trading it in for a 2014 chevy silverado. Sticker price on that is 40k but they have 11k on rebates so we'd end up paying about 29k plus tax, title, and license. Kelley Blue Book says this truck is worth about 30k for private party value.
Would this work in getting rid of that negative equity?
Since it is Saturday we didn't talk numbers or anything yet but i'm guessing/estimating all together with interest after they finace it we'd be paying about 39,000 if our notes are about 550 with an interest rate of 9%, which is way more than blue book so does that mean we'd be upside on this vehicle too?
Any help or explanation would be appreciated.
Thanks!
Read more: Trade in car but 7 grand upside down?
