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Discussion Starter · #1 ·
I have a question, my 2004 IS300 is the first car I ever bought (and financed).
I want to trade it in and get the IS350 or (IS-F), but since I'm financing the car, and I only bought it about 6 months ago, I still have about $18,000 left.. What are my options, if I want to sell/trade this one and get a new car?



lol sorry my grammer is horrible... it IS only 9am lol
 

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If you trade it in you'll lose $$ and dealer will pay the balance of ur loan. You can try to sell it privately and pay off the loan.
 

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lets say the dealer gives you 14,000 for your car, and the IS-F or 350 costs $40,000...that puts you upside down $4000 before you even start, so at that point you owe $44000 for a $40,000 car, plus TTL (these are just numbers to give you an idea, not numbers that will actually happen)

your best bet it to sell it private, when that happens, whoever the person finances through will send a check to pay your bank off and get the title, and if you get any extra money over what you owe they will five you a check. if the person buyin your car pays cash, they will probably want to meet you at your bank so they can hand your bank the check, get the title, and then give you whatever over the loan you are getting

a lot of people dont like buyin cars with liens on them, but its not all that big of a deal as long as you dont hand the person you are buying the car from money to go pay off the title and bring it to you.

have fun with the new IS man, whichever one it end up being
 

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Not sure how it works in other states, but when you trade in a car in the state of Washington they deduct the value of the trade in from the value of your new car and you only have to pay taxes on that amount. Follow me?

That being said, you save money when trading in a car. It makes up for trading it in at the "Trade in" value rather than selling it Private Party.

Good Luck!
 

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Hey bro, USE THIS WEBSITE and privately sell it, why not? POST IT UP ON THE FOR SALE FORUM!!!!! Who hear is reading this and feeling me right now??????!!?!?!? Post your car up with some pictures, specifications, and all that, you might find a better deal selling it on here than trading it in in the dealership.
 

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Yes, you can go to your bank and pick up the title when you pay in full. The problem is that your title may or may not be at that branch. All you have to do is call the bank to find out. If they don't have it at your branch, you can usually ask that they ship it there because you are planning to pay the car off and will need the title right away for the car's immediate sale. Then, you go in with cash and get the title. I've brought the new buyer right to the bank with me and given him the title on the spot. Remember to get a release of lein stamp on the title from the bank.
 

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I agree with selling it privately unless youre going to get more for trade than what you owe in that case go through the dealer and like some one mentioned before, you save money on tax because you only pay tax on the value over your trade in....
 
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