Frequent Contributor
nathan
Posts: 411
Registered: ‎04-18-2007
Re: Quick question about trading in my car.... Please help me.?
Your situation is very similar to mine. I bought my 2003 ford exdedition in 06 at 12%. after numerous attempts, navy fed agreed to ref for 9%. Penfed refused to ref because value is way down. i still owe 16k for it. Penfed approved me for 22k auto loan, but i can't even use it because one ford dealer was offering me 4k for trade in. i told them to kiss my $% and left. The penfed auto loan is at 4.25%. i was hoping to get even 10k for the trade in and roll the negative equity into another car. I just wanted to take advantage of the low interest rate. I have a blank check in hand but i dont know what to. one dealer adviced me to buy a very cheap car for like 4k or 5k. i do not think penfed would agree with such a deal. Do I have any other options? For now i am thinking of keeping the truck for like another year or two and try again. I just got approved for a 15k cc from pedfed and they are advertising bt at 2.99, can i ask to bt my auto balance or is it just for cc. if i can do that, i do not care about fico hit for now.