Car finance and trade ins

[buyaka]

This might be the dumbest question ever but I'm a bit puzzled by it so here goes ....

I have a car on finance, and in the new year intend to change the car and take out a new finance agreement with the same company.

I owe about 24k on the loan and my car should get that amount when I shift it.

I'll probably trade it in ... and this leads to my question ...

If I go for a car thats say 35k from a dealer .... does it actually matter to me what trade in value they allow for my old car?

I know it must but cant see how .... because I'm financing 35k to get the new one anyway ...

Could someone explain what I'm obviously missing and make me feel a little less stupid!

 

[Car Mad]

Yes I does indeed matter how much you get for your trade in car. No matter about the 35K you are getting on a loan. The more you get for your trade in means the less difference you have to make up. Word of advice- dont go into a main dealer unless you have figures set in your head before hand because they will screw up over.


hope this helps.