Plan on trading in a truck that was offered 26k for trade in. I owe 31k on the truck which leaves me roughly 6 k negative interest. I want to trade for a car that is listed at 24,500 but the NADA retail is 28,625. For financing purposes that should leave me with roughly 4k of wiggle room befor I start getting into the LTV issues on the car.
I plan to put 2k down and roll the 4k into the new vehicle which would put me at 100% ltv on the car. I have approved financing already for 29k. Any F&I guys have any input? Would you think the dealer would be ok with adding the negative 4 k into the price of the car? Numbers wise it looks like it will work . Thanks.
