Can you use your car as a trade to buy another car even if your name is not on the loan or bill of sale from the dealership?
Sure. the dealer can accept anything he feels has value toward the payment....cars, boats, art, etc.,...even work.
20 people found this useful
%DETAILS%. Answer . This is certainly something that can be negotiated with a dealer. It will depend on how much equity you have in the deal, how much money you may be borrowing on your new vehicle, etc. But if you make a it a condition of the deal, yes, it can be done under the right circumst…ances.\n. \nYou can learn more at dealertricks.com\n. \n. (MORE)
No. I recently took a car loan for my son because his credit is bad. The loan is in my name, the title is in his name only. He is listed on the loan as the 'holder of colateral'.
If you have a car loan in your name from a credit union will it affect your ability to get a loan for a second car from a dealership?
ALL loans affect your Credit Rating. Some good and some bad. All existing accounts are also used to calculate your "debt-to-income-ratio" (DTI). This is the percentage of your income that you pay out in bills. This number has to be an acceptable number to the lender before they will close a new loa…n. (MORE)
Would a used car dealership sell you another used vehicle when the car you were recently buying from them was totaled in a car accident and you did not have insurance on the car?
\n. \n Answer \n. \n. \nSo long as you don't still owe money on the first car, I expect they would.\n. \n. \n. \nI believe if you paid off the wrecked car, they may sell you another. They may require you get insurance before it leaves the lot.
Can you use a car as a trade in for your new car if the trade in is titled to your daughter and has an out standing loan signed by another person and your daughter agrees to the trade in?
Answer . your daughter would have to sign the release documents for her car.. As for the loan, whoever signed the loan would still have to pay the loan, regardless. The loan doesn't go away.. If you do consider this, make sure there aren't any liens or any other claims to that car, through the… bank or other institution. (MORE)
Is it possible to trade in a car and buy a new one even if you are still paying off a loan for the original car?
Answer . \nYes. You have to make certain the dealership you're working with for the purchase of the new car is covering the entire amount owed on the old car. Also, whoever is doing your financing should give you a check made out to you and the lienholder of the old car so that loan can be pai…d off. If you do not do this, it is possible for the bank of the old car to come back to you and sue you for the loan balance. Keep copies of everything in a safe place. sunnyraye (MORE)
Answer . Find one up for sale and give them a large sum of money
Answer . yes, they buy out the loan, and if the vehicle is not worth what is owed the balance can be added to the amount being finaced on the new one
Answer . At the end of each month, especially the last day of the month, salesmen will pull out all the stops to make that last sale. . On a broader level, toward the end of the current model year, September - November, dealers want to clean out inventory to provide space for their new vehicles…. They will also advertise their lowest prices at this time. Just be aware that your new car will become a year old immediately when the new models are available, and loose blue book value as well . (MORE)
Answer . It is the discretion of the lending institution. When the dealer is processing the transaction they will show all the numbers in the document but it is up to the lending institution to accept. Most dealers are very "savy" and what they will do is inflate the price of the purchased vehic…le in order to inflate the value of the trade in. They know the maximums the lending institutions will go and they play with the numbers. The lending isntitution will decide based on your credit worthines and the loan ratios. (MORE)
\nSometimes it is possible to do so and even get a good interest rate on it as well. Check with various lending institutions to see which allow that sort of thing.
Answer . I actually sell cars and that is totally classified!!! Kidding. The average used car will gross between $1000 and $1500 which to be honest barely covers the bills. That would give a salesperson 100 to 200 dollars in his paycheck. I have seen dealers take a loss for a car when trying to …move it. Yes... that happens. And I have seen one dealer make as much as $9000 on one car. That is extremely rare and wrong but i saw it. The salesperson made 1700 on that on car. (MORE)
\nI believe the sales tax is the same if you buy from a dealership or from an individual - $6.25%.
In theory no, in practice yes. This is done all the time. You want a certain car and they do not have it in stock. The call around and find the car you want at another dealer. They sell you the car and go get it from the other dealer.
Depending on which state you live in, you may be required to use a state approved bill of sale form. The state approved bill of sale forms typically require information such as: the seller's and buyer's name and address; the car's vin number, make, model, body type & year; odometer reading; and sale… price. Some of these state approved bill of sale forms also require the seller's and buyer's signatures be notarized. Other states have moved this information to the title for you to complete when you sell the car and no longer require a state approved bill of sale form. (MORE)
If you did not buy the car it depends on the creditor. Some will void out the loan, others will not. If they do not void it then you have all the money from the loan... so you can pay the loan in full immediately. I think it is not very good to get a car loan if you didn't buy he car. it is just …my opinion! (MORE)
No sales manager of a franchise dealership these days making less than 100K per year - no matter what is the pay plan are, if so that's mean that person either new and will not be holding that position for any longer. Sales Manager makes around 120-150K, whereas GSM making 150K to around 250K. Goo…d F&I manager makes around 120-170K depending on the volume of the dealership. There are a lot of money to be made in the auto retail industry (MORE)
You will still owe the money back with agreed upon interest. There may be some legal issues if you used the car for collateral and you do not own the car. return the money with the interest. the longer you save the loan, the more interest you have to pay!
It may vary by state, but car repo (snatch and run) is against the law in Louisiana. If the repo man shows up wanting you to sign some papers, and has a cop sitting close by, don't worry. By law, if you don't sign that piece of paper, they cannot take your car. (The cop and repo guy are friends, or …just got a kick back.) But it's easier to do that than go to court and end up paying the court fees also. (MORE)
It varies from state to state. Where I live (Washington State) you pay sales tax on the difference in value between the new car and the trade-in vehicle. Example: New car purchase price $25,000, trade-in car value $10,000; tax is paid on $15,000.. It varies from state to state. Where I live (Washin…gton State) you pay sales tax on the difference in value between the new car and the trade-in vehicle. Example: New car purchase price $25,000, trade-in car value $10,000; tax is paid on $15,000. (MORE)
Yes in theory you can, once you receive your student loan as a lump sum you can use it for whatever purpose. But it is not wise due to the risk of your education.
You do have a grace period, if it is agreed upon by you and the seller, to return the purchased auto if you are not happy. At least that has been my experience in my own purchases. I have never immediately traded "it" in for another.. I am sure, should you find a willing salesperson, such a transac…tion may take place.. "Money talks and Suckers walk." (MORE)
Can you cancel an agreement to trade in your used car to buy another used car if the car is titled to your parent?
I don't not believe you can. The only time you could do that is if you had Power of Attorney over your parents. If parents give permission but just cant leave the house to sign papers then it would be fairly easy to get POA for that. Some dealers might even bring the papers to your parent and save …them the hassle of coming in. The easiest way would be to get your parents to sign over the title to you, but if you owe money on the car you would have to go to a Bank or Credit Union and see if you can refinance the car in your name alone. The "Homeland Security/ Patriot Act" Has made the paper work process of buying a car a lot more involved then it use to be. Paperwork is very carefully scrutinized now. Good Luck hope I could help a little. (MORE)
You will have to borrow enough money to pay off the balance on the car you now have plus the price of the car you are buying.
Why would a car dealership not have the title for the used car you purchased and does a Bill of Sale take the place of a title proving new ownership?
because most car dealers buy from auctions that give them a floor plan in other words they hold the title and give them a credit so that they can take the car on their lot and sell it and once it is sold they have to go pay off the floor plan to receive the title so that they may register it in your… name. There is usually a time limit for them to do it before they are charged penalties. (MORE)
It is possible to trade a used car to another used car. As long as both cars are in good condition ang good price too.
That depends. A dealership will only buy a car that they can make money off of. I suggest taking the car to the delaership that it was made from. If you have a Chevrolet, like myself, you are better off taking the car to the Chevrolet dealership. The vehicle should be in the best shape possible to g…et the maximum profit. (MORE)
When you buy a used car and it has a different engine do you need a separate bill of sale for the engine?
I would think it would be a good idea to at least have a receipt to show it was purchased legitimately. That might vary by different laws in other states.
Yes, but the price would most likely be higher then average because you'd be forced to pay off the remainder of the loan and whatever the car buyer wants for it.
There are literally 10 of thousands of car dealership in the US. What state do you live in? Check the related links here to see a few car dealerships in the largest states.
If you win a car but don't like the car you won can you trade it in to the dealership immediately for a car you want if so do u still have to pay sales tax on the car u won?
Yes you can trade the car. Yes you will have to pay sales tax and yes you will receive a 1099 tax form for the value of the car just in time for tax season next year.
According to Kentucky's Attorney General, you have no right to cancel the purchase of a used car in Kentucky. One trick to get around this is to cause your loan not to be funded by the bank or credit union - this does not work if you got the financing from the dealer. Our credit union often advis…ed people to write 'subject to financing by the xyz credit union' on the sales contract. Then, if they wanted to cancel the sale, they could tell the credit union to reject the application. A little falsehood might get you off the hook, or not. Call the dealer and tell them you are about to be fired from your job. That will generally cause them to cancel the loan but good luck getting the deposit back. (MORE)
That depends on the year and condition of the car. If it is still new enough to sell for a decent profit they will resell them on the lot. if it is beyond "the quality" of the lot they go to auction where your used car dealers get them or the buy here pay here places. Some times if they are really… bad they take them to the junk yard (MORE)
No. And not a good idea even if it was. Yes, you can. If you are buying from a dealership (new or pre-owned) and they have taken the vehicle in as a trade-in then don't pay it off and you purchase it....someone is not going to be happy. Or, if you purchase from an individual who still owes a balanc…e to the lienholder and never pays balance owed, again,.... someone is not going to be happy. As a previous employer of a pre-owned dealership, this does happen...BE SURE, you have the vehicle transferred to you with the seller's name and signature legible. Do a title search!! Why would anyone purchase a vehicle or take over notes and not have the vehicle registered in his or her name? DEFINETLY, not a smart thing to do. (MORE)
Every Province, Territory and State has different laws governing the sales of used vehicles. You would need to be more specific in your question and specify the area where you are looking.
Most car dealers get free company demo cars, also with experience the typical saleman may only work 3 or 4 days a week (even if longer hours). An average car salesman will often progress to level of manager with work or some education who can benefit from being in a job that is very stable and can h…ave amazing pay grade at par with many more technology based careers. (MORE)
Although you can usually get a lower priced vehicle from the owner it might be best to go hrough a dealership because that way you know it has been inspected and safetied, and you just have more information available on the vehicle. Additionally it sometimes comes with a warranty.
Many car dealerships in Anchorage will advertise used cars like Hondas in weekly Auto Trader magazines, in newspapers and on services like Craigslist. You can check all these sources or you can call dealerships and inquire about the specific model you are interested in purchasing.
The price will be higher. They take the blue book price and mark it up. If it was a lease return they will take the residual left on the car and add to it. Either way you will pay more for the car. The one advantage of dealer vs. private party is that if there is a problem with the car you can get i…t corrected/repaired while a private party is an "as is" deal. Few people will accept a car back if there is a problem, but with a dealer you have a contract that should have a clause concerning returns/repairs. (MORE)
It is a requirement to have a driving licence to buy cars in some countries.
they will register it for you, the price will be included in the final total you owe.
BMW car dealers do generally offer cars for sale though they are required to have a wholly separate area for their used car sales than for new car sales.
Dealers that sell used cars in Topeka, Kansas include Jim Clark Autoworld, Briggs Kia, Auto Acceptance Center, Cruser's Auto Plaza, Lewis Auto Plaza, and Honeyman Auto Plaza.
Just as long as it takes to find financing for you. The salesman will start with those financing agencies he knows and continue to call one after another, the first one to say yes, is when the clock stops. I would expect no mlore than a couple of hours to 1/2 a day.
Used cars dealers will finance their sales through a number of different ways. Advertising can be bought, and the simplest way is just by selling these cars.
No. Every vehicle has to have a title , I believe after 1972. The vehicle cannot be transferred unless there is a clean title to it.
Absolutely. Even if you pay cash for the vehicle you will need to prove that you have liability insurance in order to legally drive off the lot. If you are financing the vehicle you will have to show that you have liability and physical damage coverage before driving off the lot. The dealer will con…tact your insurance agent to verify that the coverage is in force and will add the vehicle to your policy with the coverage that they require and that you want. (MORE)
One of the dealerships that have BMW cars for sale is Agnew Cars in Belfast.Another dealership is David Prentice Cars who have showrooms in Portadown and Omagh.
Car dealerships that sell Citroen cars are located in the United Kingdom. Arnold Clark located in Dumfries and Galloway is a dealership. Other dealership names are Telfords Carlisle located in Cumbria and Arnold Clark located in Armadale in the Lothian region.
A dealership fee is usually known as a Documentary Fee or Doc Fee.It also depends on the dealership. We only charge a Doc Fee whereother dealers may have other fees that they charge for and assignthem a different name.