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Question for new car auto loan

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Anonymous
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Question for new car auto loan

I currently have an auto loan with CapitalOne using their blank check program. Previously, I had an auto loan with CapitalOne at 10.8% with no lates and I paid it off early. My current apr is 8% on a 25K loan with no late payments. I now owe 23K. The car is worth 18K which puts me under 5k. I have 6K cash saved. I want a new car that is 25K. Would I be able to trade in the old car for 18K and pay the difference of 5K to break even? Ill use the remaining 1K as a down payment for the new car. Also, I am hoping to receive a better rate of 8% apr to lower my monthly payment too. My scores right now are EQ 612, TU 643 and EX 614.

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