Can I roll my current auto loan into a new auto loan?
Can I roll the balance of my loan ($1,000) into a new loan? I have about $9,000 left on my current car loan, and I know my car is worth about $8,000 in trade-in value.
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Answered on Jun 29, 2021
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“Yes, you can certainly roll that remaining balance into the new loan.
However, you should note that doing so might make you upside down on your new car loan for longer than you would be otherwise.
How to get out of an upside down car loan isn’t always easy, and you may end up taking a substantial financial hit on the car.
But with just $1,000 extra added to the loan, you’ll probably be alright in terms of finances.”
MORE: How to Trade in a Car
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