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NaoMaoi OP t1_je8bwzr wrote

Reply to comment by nkyguy1988 in Wanting to trade in current car for something cheaper. How does this work? by NaoMaoi

CarMax and Carvana both offered 31K as is for a trade in.

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nkyguy1988 t1_je8c2ah wrote

Assuming you take their deals they will pay off the financing and that leaves you with about 7k for a down payment on something else.

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NaoMaoi OP t1_je8c8it wrote

Awesome. Exactly what I was curious about regarding the left over money.

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nkyguy1988 t1_je8co5r wrote

Also keep in mind that unless you are buying a new model with manufacturer incentive financing, you will not find a 3.4% rate. In fact, short of having that promo, a good car rate is about 6%, maybe 5.x% if you look hard enough.

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