@ndmdl3 wrote:
2009 Chevy Traverse with approx 114,880 miles. Balance on loan 18K trade in value 9K. I will be moving to Rocky Mount VA and need a more gas mileage friendly car. But I am not sure how to go about this due to the huge amount of negative equity on my current vehicle. Would it be best to try and sell it myself then get a personal loan for the difference then try getting a car? I don't want a new car because I would be in the same boat and the markup on new cars is ridiculous. Thoughts anyone??
Yes, try to sell it privately.. It will be better than trading it in and then getting a loan to pay it of. If you don't mind me asking, what is the interest rate on this loan how long have you had the car for?
The negative equity is pretty high... So just curious by asking these questions if you don't mind.
