Advice Please!

[Mgilbert8605]

For about the past month or so, I had been car shopping but decided to stop....I'm severely upside down on my current auto loan. I owe 12k on it and the last offer I got for it at a dealership was $6,800. I don't have a big enough down payment to make up for the negative equity. 

Yesterday, I discovered that a local Nissan dealership has a promo through the end of this month where they are tripling Nissan's factory rebates,  making the total rebate on a car $4.500-$6,000 as long as I finance through NMAC and depending on which new Nissan I choose. 

• Does this sound like a good deal to help me with my negative equity?
• On True Car, does the price shown already include any incentives/rebates? I'm trying to determine if I should try to negotiate the price down further after the triple rebate. 

[StartingOver10]

Before you go to Nissan, go to Carmax and have them give you a value. At least then you will know an actual value (closer to wholesale) - rather than what you are being told for the trade in's.

That value from Carmax should be higher than the trade in value you are getting quoted. It will be less than the value you can get selling it yourself, but more than the trade ins quoted by most auto dealers.

This way you have actual numbers to work with when you go to the Nissan dealership to see what, if anything, they can do for you.

 Those 'triple rebate' type deals have a catch. Usually the catch is the purchase price. The money doesn't dissappear. You have to see where they put the additional cost. It is easier to see where they put it when you have all the facts and figures. Good luck. It is worth a trip to the dealership. If the deal is bad, walk away.