Buy a new car or continue with payments on my current car?

TM_1
Contributor

Hello,

 

I currently have a 2016 vehicle with ~70K miles on it. I have still owe $20K on the loan. My question is should I trade this in (trade in is ~$10K) and get a new vehicle. As you can tell I drove my current vehicle very frequently. But now I am settled and don't expect to put his amount of miles on the new vehicle (If I get one). Also if I do go forth with a purchase, would I need to ask my loan on the car to cover the cost of my current loan plus the cost of the new car before the trade in? I'm just not sure how that works (sorry, I'm a newbie to car buying). Thanks for any advice.

Tags (1)

1 REPLY

Hello @TM_1, please call and speak to one of our loan specialist. They can assist you with your questions. -Colleen