ok so i was with one of my buddys who happens to work at a mitsu dealer, and we were chatting and i was telling him how badly i wanted an evo 9, being the previous owner of an evo 8. But as we were talkin he told me that they had just got an evo 9 in with really low miles that was going for 24k. ok now me and my buddy talked about this but i wanted to kno how you guys would go about doing this, ok i have a pontiac torrent that im willing to trade in for its kbb which is about 13k, but i havent finished paying it off. so my question is if i trade the pontiac in towards the evo would i still have to pay both of the cars or will the dealer pay off the truck once they received it as a trade and and i would only have to pay the truck???

sorry for a newbie question guys i just wanted to get some serious help in this dilemma and im still kinda new to this whole car purchasing thing seeing as im only 20. but thanks guys

 

How much do you owe on the pontiac?

 

u need to pay off remaining loan for the truck if i am not mistaken
but u get to just pay 11k for the evo in your loan for the evo

 

there's is no way on earth the dealership is going to give you anywhere near the suggested price of your vehicle. Plus KBB has inflated prices. Just sell the truck by yourself.

 

He's absolutely right. I went through this route before. Knock off a few grand and that's what they'll give you for the car. And the way the economy is now, good luck taking out a loan for the remaining amount of money you might need for the Evo. Not trying to shatter your dreams, i'm 21. I felt the exact same way. Try your best to sell off that pontiac yourself.

 

it depends on how much is paid off on the pontiac.if youre upside down on the pontiacs loan, you would me rolling over how much you owe ontop of the agreed evo price..to make this sounds simple..

KBB value on the pontiac is 13k. if you still owe 15k on the loan, then you would roll over 2k to the purchase of the evo. so if you got the evo for 24k (if your utterly terrible at negotiating) then the evo would come to 26k becuase of the roll over. (this probly wont include tax and title, and tags)

KBB value on pontiac is 13k. If you owe 11k on the loan, then you now have positive equity and you may use the 2k in positive as a downpayment towards the evo.

if you trade the truck in, the dealer will pay the truck off, granted you made a deal with them, with the above information.

after all is said and done you will have ONE loan with the evo, thats it

 

btw this all depends on how much is given for the pontiac, if you get shafted with the pontiacs trade in, your going to be biting the bullet on the end loan amount

 

if they give you less than what you owe on the pontiac, you will still have to pay off the rest.

 

Condition of your vehicle as well will affect the trade in value

 

the condition of the truck is great i keep really good care of my cars and i kno for a fact that the dealer wont find anything wrong with it! but i owe just about 10.5k on the truck still. so i heard that selling your car to carmax would be good because they give you a little over kbb. should i go about doing this like selling my truck to carmax and use what ever i have left over towards the evo or what guys??? Thanks again