Negative Equity ???

[Anonymous]

Can you roll in 2-3 K of negative equity in a used car purchase? Or only doable with rebates/discounts on a new vehicle? I am trying to plan for next year when my 7 year old Kia hits the 100K miles mark and powertrain warranty is done; car is starting to reqire work which is not cheap. Thanks in advance

[EddieK]

You can roll in negative equity on a used car, although if you can, I'd try to pay off the negative equity before rolling it into another auto loan.

[Anonymous]

What LTVs do they lend on used cars if rolling in negative equity?

[EddieK]

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@Anonymous wrote:

What LTVs do they lend on used cars if rolling in negative equity?

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Maximum LTV depends on the lender and your credit.  Many will go 120%, but going higher is not unheard of, but expect less favorable interest rates.