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Davo
Davo, Master technician
Category: Car
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Experience:  ASE Master Technician/Advanced Automotive Diagnostic Technician
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chev..Im still paying on.I went to car dealership to see..my car.

Customer Question

I own a chev 2001 prism that I'm still paying on.I went to car dealership to see if I can do a trade-In on a new suv, they told me they would pay off my car.I have $2000 dollars neg equity but the new suv has a $500 dollar rebate I want to know if this is a good deal.I wanted to go pre-owned but was told it is best to go new with neg equity.
Submitted: 11 years ago.
Category: Car
Expert:  Davo replied 11 years ago.
It would depend on the price of the new vehicle.Right now if you are trading it in on a new GM under the every one pays the employee price program I would agree.The discount right now is the biggest ever on GM vehicles and you really would be getting the vehicle at the same price as an employee I checked at work.The prices put new into the 1 to 2 year old vehicle range.I would suggest either making slightly bigger payments to keep your equity from falling behind again or plan on driving it into the ground(keeping it forever) so to speak.If this answer has helped you please click on my accept button.If you feel it has helped you very much you may add a bonus if you wish.

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