What happens if I trade in my car for a cheaper car?

As long as your vehicle is worth as much or more than what you owe on the loan, you should be in good shape.

In this case, it will be easy for a dealer to take the vehicle as a trade-in.

They can simply pay off the loan and apply the $5,000 of equity to the purchase of the cheaper car.

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Can I trade in my upside down car for a cheaper car?

Trading in a Financed Car with Negative Equity Having negative equity – or being upside down – in a vehicle means that your loan balance exceeds the current value of your car.Or, you can ask the dealer if this amount can be rolled over into the new loan.

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Can I trade in my financed car for a cheaper one?

Trading in a Financed Car with Negative Equity If you have negative equity in a financed car that you want to trade for a cheaper vehicle, you will need to do one of two things.Your first option is to pay the difference out of pocket.Or, you can ask the dealer if this amount can be rolled over i...

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Trade in an expensive car for a cheaper car?

If you will trade an expensive car for a cheaper one, make sure that the cheaper car is in good condition and the trader of the expensive car should pay exact amount of money for the expensive car.

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Can I trade in my Harley for a car?

Auto dealerships will accept a motorcycle trade-in if they can sell the bike for a higher price than they paid for it.The decision to accept a motorcycle as a trade-in is made by each individual auto dealership.

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Can I trade in my car if I'm upside down?

Dealers may offer enough cash incentives to make up the difference for the 20% depreciation that happens almost immediately when you buy a car.Pay off your car loan before you sell or trade-in.You can't be upside down on a paid off car.A lease means no loan, which means you can't be upside down.

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Can I trade in my financed car for another car?

If you're still making loan payments on a car you're planning to trade in, be aware that the loan won't just disappear.The remaining balance has to be paid off.That may not be an issue if the amount you owe is less than the trade-in value of the car, but it can become a problem if you owe more th...

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Can I trade my lease in early for another car?

Trade in your vehicle for another vehicle You might be able to roll your current lease into another one at the dealership.You'll still need to pay early exit fees, but they'll be included in the monthly payments of your new car contract.

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What happens if I don't pay for my car?

Your car will be repossessed and your credit ruined.Usually you can miss one payment and they will just tack it on to the next months bill with penalty and late charges. If you continue to miss payments they will take your vehicle away from you and it ruins your credit.

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What happens if you trade in early A lease?

Getting Out of Your Car LeaseTrading in a car lease prior to the lease termination date is often a costly and credit damaging act. For many lease companies, they treat this as a "voluntary repossession" harming your credit and will charge an early termination fee, often being a few thousand dolla...

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How can you trade in a car that is 2 months old for something cheaper?

Hello Everyone, I am Mrs. Grace Brown, Some few months ago, I was bankrupt, my husband lost his job and we ran into huge debt. I posted a question on wiki answers, and i got an answer from a certain "Dr. Paul Neville". Initially, i was scared and thought he was a scam. My husband encouraged me to...

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Can I trade in my financed car?

When trading in a car with negative equity, you'll have to pay the difference between the loan balance and the trade-in value.You can pay it with cash, another loan or — and this isn't recommended — rolling what you owe into a new car loan.

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What happens if you trade for a car but no not have an operator's license?

Driver licenses are not required as a condition of car ownership. However, you will need a licensed driver to deliver the car to your garage from the place of swap or purchase. You will need a licensed driver thereafter, or to obtain your own driver license, in order to use the car for your perso...

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What happens if I run my car without a thermostat?

When driving without a thermostat, you may notice a decrease in gas mileage or performance.This is because driving without a thermostat "tricks" your engine into thinking it is cold outside, causing it to adjust the gas mixing valve and push more fuel to the engine.

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How can I get the most for my trade in?

Follow these steps to get the best price possible on your trade-in. Find the trade-in price. Use online pricing guides to see what your trade-in should be worth. Give your car curb appeal. Shop your trade-in. Negotiate the trade-in price separately. Review the trade-in price in the contract.

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What paperwork do I need to trade in my car?

That includes: Valid driver's license.Insurance card.Any trade documents (title, registration, or loan release)Last two recent pay stubs (if you have more than one job, bring the stubs from those as well)Proof of residency (any current utility bill should do, such as water or electric)

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Can I trade in a financed car for another car?

If you're still making loan payments on a car you're planning to trade in, be aware that the loan won't just disappear.That may not be an issue if the amount you owe is less than the trade-in value of the car, but it can become a problem if you owe more than the car is worth.

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How do i trade in a car for a scooter?

don't trade in the car for scooter sell the car then sell the scooter you'll get better deal on both of them they won't be linked and you will be able to negotiate with both

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Can I trade in my car if it has mechanical problems?

Trading in a car with mechanical components is usually not a huge problem.Most dealerships will consider taking your car on trade.But beware, you're probably not going to get the most value for it.Because the dealer needs to fix it or sell it as is AND make money, your appraised value will be low...

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What happens if I turn my lease in early?

Everyone who leases their vehicle knows what happens if they return it before the end of the contract –you get hit with an early termination fee.That is, unless the manufacturer or dealer wants you to get out of that lease and into another.They generally take place about 90 days before the lease ...

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What happens if I have air in my cooling system?

If there isn't enough fluid in the tank, air is pushed into the cooling system instead of coolant.Some systems can trap air at high points in the system.They often have a bleeder valve to release the trapped air.Trapped air can cause hot spots in the engine, even if the coolant level doesn't appe...

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What happens if I fail my drivers test in PA?

Q: What Happens if I Fail the Pennsylvania Driving Test? If you do not pass the road test, you must wait at least seven days before retaking the exam.You are allowed three opportunities to pass the road test with a learner's permit.If you do not pass the test three times, you must reapply for yo...

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What happens if I put diesel in my gas tank?

Gasoline engines cannot combust diesel fuel, so the car would stop running.Once that happens, it has to be towed to a shop, and the fuel system needs to be drained.We start by emptying the gas tank.And because the car won't actually run on diesel fuel, there's little risk of damaging the catalyti...

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Can I trade in my car if its not paid off yet?

If you're still making loan payments on a car you're planning to trade in, be aware that the loan won't just disappear.The remaining balance has to be paid off.That may not be an issue if the amount you owe is less than the trade-in value of the car, but it can become a problem if you owe more th...

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Can you trade in a used car for a cheaper vehicle in order to lower your monthly payments?

yes you can. yes you can. yes you can.

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What happens if I put antifreeze in my gas tank?

When antifreeze is poured into the gas tank, it can cause damage to the vehicle.The vehicle may not start or it will begin to sputter if it is drivable.The mechanic will drain the antifreeze from the gas tank.There is, however, a type of gas-line antifreeze that is made to keep water out of your ...

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What happens if I get water in my gas tank?

Water in gasoline doesn't just cause issues in the cylinder; it can easily damage injectors if it expands rapidly in the injector tip (due to the inherent heat of the injector).And if it sits in the fuel system for a long period of time, it can even cause rust in your fuel system.

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What happens if I overfill my transmission?

Overfilling and What It Means It Does To Your Vehicle If you add too much transmission fluid, you will notice that it may foam, and that can bring about erratic gear shifting.When an automatic transmission is overfilled, the fluid foams, leading to gear shifting problems, oil starvation as well ...

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What happens if I overfill my oil?

Dangers of Overfilling When too much engine oil fills the crankshaft in your car, the oil becomes aerated and is whipped into foam.Foamy oil cannot lubricate your car well, and in many cases it will cause oil flow to halt completely, overheating your oil and causing loss of oil pressure.

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What happens if I overfill my Freon?

A: It is possible to overfill an air conditioner with refrigerant and, unfortunately, several problems can occur that could permanently damage the unit.Overcharging the unit can cause permanent failure of the compressor, which is the pump for the refrigerant.

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What happens if I rent a car for someone else?

Can you rent a car for someone else? Yes, if the person who is with you and holds the credit card is added to the lease agreement as an additional or authorized driver.

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Should I pay off my car before trading it in?

When You Should Wait to Trade In It's not worth wrecking your financial future for a newer set of wheels.When you have prepayment penalties.When a lender agrees to a car loan, they are counting on earning interest off of you for a set amount of time.

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How long should I wait to trade in my car?

How long you should wait to trade in your vehicle ultimately depends on your current loan.There's no specific time frame you need to follow, but the general rule of thumb is to wait until your car has equity before you go to trade it in.

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What happens if i hit telephone pole with my car?

Depends on the speed you are traveling, what kind of car you are in, where on the car you hit, what the telephone pole is made out of and how well it was anchored. If you hit a wooden, leaning telephone pole in a large SUV head-on at 50mph, you will probably be okay (but with injuries, total your...

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What happens if I don't renew my car insurance?

When an insurance lapse happens, this means you are no longer covered.A lapse can happen if you forget or don't renew your car insurance, if your car insurance provider cancels your insurance or if the insurance company goes out of business.

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What happens if I drive my car while its overheating?

If you are driving a car that is overheating but still has coolant, as in the case of having a faulty thermostat, the high temperatures can cause the antifreeze to boil, expand, and cause intense pressure within the radiator hoses.

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What happens if I report my car stolen?

If your car is stolen, you need to contact law enforcement and file a stolen vehicle report first.Insurers won't honor an auto theft claim unless a police report has been filed.You should be prepared to tell the police everything you know about your stolen vehicle.

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What will happen if I can't pay my car finance?

If you owe less than the car's value, you've got equity.If you owe more money on the loan than the car's actual value, you have negative equity.You'll pay off your loan and that's that.There will be no danger of hurting your credit because of late or missed car payments.

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Should I repair my car before trading it in?

What's not obvious is how much work you should put into your old car before bringing it to the dealership for a trade-in appraisal.Major repairs are best left to the pros—they can do it for less money, and they won't add the cost you paid for repairs to the trade-in value.Small fixes, however, ar...

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What happens if I get my car repossessed?

Even if your car is repossessed and later sold at auction, you might not be off the hook.If your car sold at auction for less than what you owed on the loan, you must still pay the remaining balance to your lender.The creditor will notify you of how much you owe and you will be responsible for ma...

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What happens if I hide my car from repo?

Answer: Whether you can hide or lock up the car to buy yourself time to pay off the loan depends on where you live.In most states this won't violate any laws, unless you do it with the intent to defraud the bank.In some states, however, deliberately hiding a car from the repossession company is a...

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What happens if I don't pay my full car payment?

If you continue to miss payments, and do not reach an agreement with your lender, the car will likely be repossessed.If your car sells for less than your loan balance, you will owe the lender the difference, called the “deficiency balance”.

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Can I trade in my car at DriveTime?

If you already have a DriveTime vehicle, it's possible to trade it in for another one, but you must meet a few requirements, according to DriveTime.You've paid your car loan down to $4,500 or less.You are not upside-down on your car loan (meaning you owe more than the car is worth).

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What happens if I put wider tires on my car?

As with any change to a vehicle, if you change it too much you can negatively impact your car.If you go too wide the tires can wear unevenly.Tires that are too wide for the wheels tend to bulge in the middle of the tread causing them to wear excessively in the middle.Going too wide can also cause...

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What happens if I total my financed car?

Totaling your car can ruin your year, but it's especially traumatic when you still owe money on the vehicle.If your vehicle is totaled and you still owe more than it's worth, your car insurance company will pay only actual cash value (ACV) for your vehicle.

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What happens if I double my car payment?

If you pay double each month, you cut down on the interest twice as fast and start paying on the principal much sooner.It is possible to pay back your car loan before the loan period expires.Doing so will save you a lot of money that you would otherwise pay in interest charges.

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Were can I get honest trade in value for my car?

There are a few ways you can go about in learning how much value your car is. The first would is to find and go to a reputable car dealership, not one of those used car lots you see all over. The second choice is that you find a Kelly Blue Book, and it also will tell you what your car is worth.

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Can you trade in your expensive car which you own outright for a cheaper car and get money back?

You never get what a car is worth on a trade in. Get the blue book value of your car. Then, sell it outright and take the money to get a cheaper car.

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What happens if I run my car without oil?

Any lack of engine oil in the system, or even dirty oil, will lead to extreme engine wear, and driving a car low on oil can lead to some pretty bad situations.If you run out of engine oil, your engine will fail.If the engine runs out of oil, it will start to grind, and then seize up, stalling the...

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What happens if I pay my car payment early?

The payoff amount includes your loan balance and any interest or fees you owe.You can also pay more than the minimum amount due each month.Making at least one extra payment on your loan every month, or adding more money to your monthly payment, may help you pay off your car loan early.

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What happens if I drive my car without oil?

Any lack of engine oil in the system, or even dirty oil, will lead to extreme engine wear, and driving a car low on oil can lead to some pretty bad situations.If you run out of engine oil, your engine will fail.If the engine runs out of oil, it will start to grind, and then seize up, stalling the...

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Where can I get the best trade in value for my car?

Follow these steps to get the best price possible on your trade-in. Find the trade-in price. Use online pricing guides to see what your trade-in should be worth. Give your car curb appeal. Shop your trade-in. Negotiate the trade-in price separately. Review the trade-in price in the contract.

Read more

Can I trade in my car thats not paid off?

If you're still making loan payments on a car you're planning to trade in, be aware that the loan won't just disappear.The remaining balance has to be paid off.That may not be an issue if the amount you owe is less than the trade-in value of the car, but it can become a problem if you owe more th...

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Can I trade in my car without the title?

In order to trade in your car, you must have the title ready and available for the dealership.Unless there's a lienholder involved, dealers won't accept a trade-in unless they can see the title with your name on it.In fact, it's illegal to sell or trade in a vehicle without a title in most states.

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How much money would I save if I traded my car as apose to selling?

The Michelin Cross Terrain SUV tire is a premium highway all-season light truck tire designed to complement the way most Americans drive their sport utility ..

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What happens if I run my AC without a filter?

#2: Damage to Your AC Unit If dust and debris get caught inside the air conditioner, it can clog up parts and prevent them from working properly.Plus, all the buildup of dust and debris can restrict airflow and cause your AC to overheat and shut down.

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What will a car dealer pay you for your car if your are not trading in?

About half of it's actual value.

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What happens if I let someone drive my car and they get in an accident?

Contrary to popular belief, in case of an accident, car insurance follows the car — not the driver.Even if your friend has great coverage with the highest limits and the lowest deductibles, your auto insurance would have to cover the damages if your friend got into an accident while driving your ...

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What happens if I put too much gas in my car?

Yes, overfilling your gas tank can cause damage to your car and it can cause the check engine light to come on.When you overfill your gas tank, you can get liquid gas into the vapor recovery bottle.This can damage the system, requiring parts replacements.

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What happens if I put too much oil in my car?

As a result, half a quart may not cause any damage to your engine, but much more than that could lead to engine damage.When too much oil is poured into the reservoir, the excess oil can be pulled into the crankshaft as it spins.

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What happens if I put too much transmission fluid in my car?

When an automatic transmission is overfilled, the fluid foams, leading to gear shifting problems, oil starvation as well as transmission damage.Adding too much transmission fluid can also cause early failure and damage of parts as result of excess pressure.

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What will happen if I do not get the head gasket replaced in my car?

YOUR CARS MOTOR WILL BERN UP AND IT WILL LEAK OIL !!!!!!! ANOTHER CAR LOVER, BEN!!

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What happens if I put too much coolant in my car?

Most of the time, excess coolant is expelled from an overflow hose.You'll likely see a puddle of coolant beneath your car if this has happened.In worst case scenarios, overfilling your antifreeze tank can lead to electrical damage if overflow comes into contact with engine wiring.

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What happens if I leave my keys in the car and it gets stolen?

It is a common insurance myth that insurers will not cover a stolen car claim if the keys are left in the vehicle.This is not true.Whether you left your vehicle unlocked, have a spare key in your vehicle, or even left the keys in the ignition, in most cases, your claim will be settled.

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What happens if I put higher octane fuel in my car?

If your car is designed to run on regular gasoline, or 87 octane.Third, your gas mileage will suffer.The inability of your engine to burn the higher octane gas correctly will cause your engine to produce less power and thus will require more fuel to perform at the same level.

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If you financed a car can you later on trade it in for a new car?

Yes, no worries as long as that car has no defects and it is in good condition.

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What if my trade in is worth more than the car I'm buying?

At the time of the actual trade transaction, your car dealer will pay you the difference between what your trade-in is worth and the price of the car you are purchasing.Some states only charge taxes on the net sales amount after the trade in.In this case, you would owe nothing.

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What happens if my car doesn't pass smog in California?

Your smog check is a requirement by the DMV for vehicle registration in the State of California.If your vehicles smog check doesn't pass, you have two choices: repairing the faulty components or stop driving your car.Your DMV registration can't be renewed if your smog check fails.

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How can I increase my trade in value on my car?

You can begin to increase the potential value of your vehicle as a trade-in long before the time comes to bring it to a dealership.Staying on top of regular maintenance items such as oil changes, tire rotations, brake jobs, and other preventive measures will increase your car's value by extending...

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What happens if I total my car and it's my fault?

If the accident is YOUR FAULT, you carried collision coverage and your car is totaled, the insurance company is supposed to write you a check for its actual cash value, minus your policy's deductible.Obviously, the higher the ACV of your totaled car, the better it is for you.

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What happens if I get my cast wet?

Most casts shouldn't get wet.If you get a cast wet, irritation and infection of the skin could develop.If the cast does get wet, you may be able to dry out the inside padding with a hair dryer (use a low heat setting and blow the air through the outside of the cast).

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What happens if I spill oil on my engine?

Both the engine oil residue and degreaser may cause a foul odour as they heat up and burn off, so run the engine in a well-ventilated area.What Happens If You Don't Clean an Oil Spill? If you choose to ignore your oil spill, it's not just dirty and messy.It can be dangerous.

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What happens if I don't rotate my tires?

Not rotating your tires will void a manufacturer mileage warranty.That's what will happen in the paper side.As to the tire itself, it's worse, especially if you have a front wheel drive.Not rotating the tires will cause uneven wear on the tires and fair them to wear out faster on all vehicles.

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Can I trade in my car even though it won't pass a smog check?

You certainly can trade your car in even if it won't pass a smog check. Some people will even let you trade cars that don't run.

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Can I trade in my car with a lien on it?

Trading in a car with a lien on the title is possible, but that lien has to be removed before the vehicle can legally be sold to the dealership.And, usually, if a car-buying customer brings a car to trade in that they still owe money on, they are in one of two situations.

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Can I get my trade in vehicle back?

Dealers don't usually resell trade-ins themselves.Instead, dealers usually take trade-ins to auction for other dealers to buy.Once that has happened, your car is gone, so you shouldn't come back after a few days hoping to reverse the deal and get your old car back.

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How can I trade in my lease early?

Leasing is another story. The potential penalties for terminating a car lease early. Return the car to the dealer or leasing company. Buy, then sell the vehicle. Use a lease-trading website. Buy a new car through the same dealer. Default on the lease. Summary.

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What happens if I pay my registration late?

Penalties for Late Registration If you pay it after one year but within two years, you are charged a late fine of $50, and if you take more than two years to pay the original vehicle registration fees, you will be charged $100 along with the actual registration charges.

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What happens if I break my lease and don't pay?

Depending on your reasons, your landlord may be sympathetic and not penalize you.At worst, however, breaking a rental contract could have serious consequences.If you break a lease without legal grounds to do so, you may: Be required to pay the rent for the remaining months on your lease.

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What happens if I don't replace my bushings?

When bushings wear, they allow more movement.The driver may feel a shimmy from the front of the vehicle, or hear clunking or rattling noises on rough roads, when turning the wheel or in hard braking.Worn control-arm bushings can allow the vehicle's front end to slip out of alignment and cause pre...

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What happens if I voluntarily surrender my vehicle?

In voluntary repossession, you return your vehicle to your lender when you are unable to make payments.You inform your lender that you will not make payments going forward and that you want to surrender the car.If the car sells for less than your balance, you'd still owe money to the lender.

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Can I trade in a car I just bought?

Yes, you can trade in a car with a loan.But proceed with caution and make sure you — not the dealer — control the transaction.If you're trading in a car you still owe money on, you're looking at one of these two situations: You have positive equity.

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How does trading in a car work if I still owe money?

When the amount you owe on the car is less than the trade-in value, the process is pretty straightforward.Say you still owe $5,000 on a car, and a dealer offers you $6,000 for it as a trade-in.The dealer pays off the $5,000 loan for you, which releases the lien.Then, you transfer ownership of the...

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What happens if I put a bigger tire on my car?

Changing wheel size means changing tire size When you add larger rims, you will need different sized tires.The tire will need to be shorter in height (aspect ratio) to compensate for space, and to keep the overall diameter the same.Something to also consider is that bigger tires are usually more...

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What happens if I don't pay my credit card for 5 years?

If you don't pay your credit card bill expect to pay late fees, receive increased interest rates, and incur damages to your credit score.If you continue to miss payments your card can be frozen, your debt could be sold to a collection agency, and the owner of your debt could sue you and have your...

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What happens if I put bigger tires on my truck?

A larger tire size can make your truck look and perform better in some situations.But changing tire size too much can affect speedometer and odometer accuracy, handling, steering response as well as safety issues such as tire load capacity.

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What happens if I change my spark plugs?

Changing the spark plugs is a way of assuring top efficiency and performance.The misfires that may occur will increase exhaust emission as well as harm gas mileage.New spark plugs will decrease the number of cold starts that may happen in the winter.

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What happens if I lose my oil cap?

If you lose your oil cap, oil could potentially splash out as the engine is running.You would see smoke and smell oil burning as it hit the hot exhaust manifolds of your engine.It is bad, it allows dirt and moisture into the engine.It defeats the PCV (Positive Crankcase Ventilation) system.

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What would happen to my car if I hit a person with it?

well, besides going to jail if this even happened....which wouldn't, it would cause damage to your car cosmetically or genetically. and it would happen two different ways, if it you hit someone and it went underneath your car, it would tare p the "underbelly" of your car resulting in oil leak and...

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What happens if I don't renew my registration?

If you don't renew your vehicle registration, you won't get that little sticker you put on your plate, which means your registration will be expired.If you are driving the car, the police can pull you over simply for an expired registration.

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What happens if I dont renew my tag?

If you don't renew your vehicle registration, you won't get that little sticker you put on your plate, which means your registration will be expired.If you are driving the car, the police can pull you over simply for an expired registration.

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What happens to my cosigner if I file Chapter 13?

When you complete your case and receive a discharge, your personal liability is wiped out for all discharged debts.They remain on the hook for paying back your debt.If you want to protect your cosigners, you can do so by filing for Chapter 13 bankruptcy and paying off the debt through your repaym...

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What happens if I don't replace my front wheel bearings?

All wheel beraings eventually wear out. Assuming normal service, they should last at least 100,000 miles. When they begin to fail, first they become loose. This allows the wheels to wobble as they roll down the road, leading to uneven tire wear. This looseness. or "play" is too small to be felt i...

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What happens if I don't bleed my brakes?

If brakes will not bleed air can be trapped in the brake fluid.If this happens the brake pedal can feel soft and braking performance will not be as good as it should be.If you bleed screw will not open the caliper, on disc brakes, or wheel cylinder, on drum brakes, will need to be replaced.

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What happens if I just stop paying my credit cards?

Once you stop making payments, your creditors will begin to contact you in an attempt to get you to pay.This contact will continue on a regular basis until after 180 days without payment.At that point, the credit card issuer will typically charge off the debt.

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What happens if I don't change my oil filter?

You need to change the oil filter every oil change.This ensures your engine won't fail outright from oil starvation.It also means you have all of the dirt and particulates causing havoc within your engine.By replacing the oil filter at every oil change, your chances of this happening are far less.

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What happens if I bypass my heater core?

Take some time to let your vehicle cool down before removing the heater core.When the heater core is cold enough, start working on its hoses.This should make a short loop of tubing for the antifreeze, thus bypassing the heater core.So, “What happens if I bypass the heater core,” you ask?

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Can I trade in my old phone at Carphone Warehouse?

There are two easy ways you can trade in your device with Carphone Warehouse: Online.You can bring your phone into any Carphone Warehouse store and we'll tell you how much it's worth.We'll pay you by direct bank transfer, so you can take the amount off any replacement device you buy in store.

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What happens if I breathe in gas?

Perhaps one of the greatest risks of gasoline exposure is the harm it can do to your lungs when you inhale its fumes.Direct inhalation can cause carbon monoxide poisoning, which is why you shouldn't run a vehicle in an enclosed area, such as a garage.Long-term exposure in the open can also damage...

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Where do I find a place that I can trade in my old car and buy a new one?

Go to Toyota. They will trade in your junk car and trade it in for a new one of your choice. There are hundreds of new and awesome cars to choose from.

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If my car is repossessed what am I liable for?

Nothing. The company you held the loan with had taken your property (car) due to your failure to pay them. Your credit is now trashed, but I don't think you will owe anybody major fees.

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