Can you trade in and pay cash

Discussion in 'General Discussions' started by hemipower95 2.0, Jan 11, 2017.

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  1. hemipower95 2.0

    hemipower95 2.0 Senior Member

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    If the vehicle is $35,000 and they give me $30,000 for my ram can you pay off the negative equity and pay the rest of the new vehicle in cash when all is said and done, taxes etc
     
  2. Ferro

    Ferro Senior Member

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    I don't see why you wouldn't be able to.
     
  3. reek

    reek Senior Member

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    yes. cash still talks.
     
  4. mtofell

    mtofell Senior Member

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    If you run into trouble you can pay me the cash and I'll work out a deal :roflsquared::roflsquared:

    What happened? Did you win the lottery tonight??? :happy107::happy107:

    Yes, you can always pay cash...... up to a point that is. Anything over 10K and you may have to fill out some forms. At least that's the way it works at the bank. Dealers are likely similar. And the last time I did it at the bank it really wasn't a huge deal. They just asked who my employer was to be sure I had an actual job - other than the drug dealing the cash came from, of course :):)
     
  5. yillbs

    yillbs Senior Member

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    I traded in a car for 7500 I owed 14k truck was 39k . I paid 47k cash and walked out. You sign a form at the bank for that cash for irs but its completely doable.
     
  6. TRCM

    TRCM Senior Member

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    If you own the 30,000 truck outright and don't still owe money on it...sure, why not.

    but it you are wanting to trade in a truck you still owe on, and pay the trade in to purchase price difference in cash, well, that probably won't work, since the collateral for the truck is the truck, and doing what you want to do, the collateral for the existing loan would not match....and the lien holder may not like that too much.
     
    Last edited: Jan 11, 2017
  7. baum

    baum Senior Member

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    not these days at dealers. they want you to finance through them so they can get a kickback. most of the time when you see a "best price" online type add it includes some sort of 500-1000 finance "cash back" also.
     
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  8. 00R/T

    00R/T Supporting Member

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    Yes. Very true. I always finance through my credit union instead of the dealer, so I make it clear up front that I'm negotiating a cash price, not a financed one (to them, outside financing is the same as cash).
     
  9. 69GWC

    69GWC Senior Member

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    I had to finance my truck for 4 months to get the rebates so I could buy my truck for the price I did. Once the 4 months are up I will pay it off, but this was the first time I had run into this.
     
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  10. Rambo182

    Rambo182 Member

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    Yes, they wld just add the 5k negative equity onto the bill for the new truck. Why don't you use the credit card for the max amount allowed by the dealer to get points though? Assuming you are ballin, you would just pay it off in less than a month anyway. I use my credit card for everything and pay off the balance at the end of the month.

    Sent from my SM-G920V using Tapatalk
     

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