Buying a CarCars
To Top

Rolling Existing Car Loans Into a New Car Purchase

Category Buying a Car

Don't buy a new car if you haven't paid off your old one unless you have equity accumulated.

One common practice at dealerships is to offer to roll the balance of an existing loan into the financing for a new car. It usually creates a situation where you are taking a loan that is greater than the value of the car you are buying.

While this makes it easy to leave the car lot with a sparkling new car, it's a bad practice for consumers and a financial boon for dealers and lenders. Anything that is good for them, is usually bad for you.

By Fisher


Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!

Related Content
Consumer Advice Cars Buying a CarSeptember 29, 2006
Crochet Rug
Keeping a Crochet Project from Rolling Up
Wind Yarn with a Hand Mixer
Rolling Up Leftover Yarn
Close up image of student loan application with pencil and calculator
Consolidating Student Loans
A woman with a calculator and notepad, calculating bills.
What Happens if You Can't Pay Back Your Student Loans?
Summer Ideas!
Fourth of July Ideas!
Father's Day Ideas!
Ask a Question
Share a Post
Desktop Page | View Mobile

Disclaimer | Privacy Policy | Contact Us

© 1997-2017 by Cumuli, Inc. All Rights Reserved.

Published by .

Generated 2017/06/19 15:13:06 in 2 secs.
Loading Something Awesome!