is the car free and clear trade ?
if you owe no money on the trade then its good as cash.
you might want to try captive lenders 1st IE GMAC for a GM or NMAC for a Nissan ... TFS for a toyota
on new cars incentives are offered like 0% 0.9% 1.9% so on and so forth
you would take advantage of a rebate if say the dealer offered a 2500 rebate or 0.9
so you take the rebate and finance with a standerd rate for your credit profile
do the math is the rate charge more or less over the term of the loan ... also with 11K down you would be in a major equity poss in the new car loan and most finance companies will offer a discount as much as 1.0% for that... so lets say standard rate is 3.9 with chase and you are financing less then 90% of what the car is worth you get that discount.
most auto loans are simple intrest as well, so if you take the rebate and pay the car off early you only pay the rate charge for the term you used the bankes money. the rebate would also mean a lower amount financed
PS the captive companies will almost awlys look the other way from past good and or bad when you in the car 90% or less, at this point i think its important to find out what the KBB or black book states the wholesale value is if its a used car and what the invoice is if its a new car
i hope this is clear i mashed this out on my lunch break
