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Negative equity in car – cover with down payment or use for newer vehicle?

Shawn Ryder

If you’re considering whether to apply your down payment toward covering negative equity or if you should use it for a newer vehicle, it’s essential to understand the implications of each choice. These losses can sometimes outpace the rate at which car owners pay down their loan balances.

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Is it normal for a sales guy to keep lowering the monthly payment because he keeps “lucking out with my manager”?

Shawn Ryder

The monthly payment is calculated based on a standard formula: Vehicle Price: The initial cost of the car. Trade-In Value: The worth of your old vehicle, which can lead to lower financing amounts. Down Payment: Cash or equity you put down at the time of purchase. Customer Attrition: Striking a deal is pivotal.

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How to Haggle Car Price Like a Pro

Your Car Buying Advocate

We’ll give you all the insider tips and tricks to feel confident and get the best deal possible. Additionally, because of the way dealers list pricing online, you may not be aware of a markup over MSRP until you get down to the details of the deal or seeing it all line-itemed in a buyer’s order. Let’s get started!

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