I have never traded in a car with a loan still being paid and wanted to know how it works. Help?

I have a car I owe $9,000 on. But I want to buy a new car that cost $25,000. But my car is worth by NADA $14,900. Can someone tell me the sales equation what my new loan would be, if I got the full trade in value, can I pocket the difference? Could I get a lease? etc...Thanx in advance.

 

there's several questions in there.
I'm not sure about leasing because the idea has never appealed to me.

There was an article earlier on being a salesperson for a day, a good read.

look for trade in value at edmunds or blue book, my experience is dealers will offer you 1k below the trade in value but will pay what its worth if you are willing to sit around for 3 hours and 8 sales people (probably half between trade in value and blue) I'm sure other people have different experiences.

this is a handy calculator that you can use to create your guides of what is acceptable to you.
http://www.octfcu.com/calculators/java/autoloan.html

in trade allowance put trade in value, in amount owed put remaining payoff amt, etc, cash down, term, rate, etc. be sure to change the rate if you are getting it financed. As long as you don't have bad credit 4.9% should not be a problem I think.
and then create a couple sheets with different sets of numbers.

What you request from the dealer when he asks for a magic number is up to you, select somewhere below the best sheet and make them come down? I usually select something well above what is possible in the effort of less time wasting. This has never worked well. =P

I've been told if ur going to come in with a bunch of numbers already set don't bother dealing with sales and just ask for fleet or internet sales managers?

um, goodluck.

 

For what it's worth, leasing is the same as buying when it comes to your final price. Go for your best price, don't let them get you on list price just because you are leasing. Also don't let them bundle your trade in with your purchase/lease price.

 

Except you don't get to keep the car..........

 

I never personally sell any cars. I have trusted saleman who I assign a range of what i want and his $ tied to it.