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Trade fx35 for mini cooper s

hello and thanks for such an informative website.

I own a 2006 infinity fx35 with 45XXX miles on it in excelent condition i still owe $26,000 on the vehicle. im interested in trading it in for a mini cooper s. i saw one on the website at a dealeship near me its msrp is $25,000. I've checked the trade in value for my car and its between $19,000 to $21,000.

Is this deal possible being that i owe more than the msrp on the mini cooper

TIA for any help

Re: Trade fx35 for mini cooper s

Yes it's possible to include a negative amount into a new transaction, as for the maximum amount allowed depends how the lender books the vehicle in question you are buying, the dealer will have answers.

However adding in your case about $5000.negative into a new loan is red flags BIG TIME as you will be in a much worse negative situation should you want to trade or sell prior to having paid loan in full.

Re: Trade fx35 for mini cooper s

so would i be paying a monthly payment on $11000
the $7000 im upside down plus the $5000 being rolled into the new loan. or will i be paying a monthly payment on $31000 the $26000 plus the $5000