Overhaulin'

What is the interest rate for rolling over negative equity into a new car loan?

We are looking to trade in a car in which we have $3,000 negatvie equity onto a new car loan of $11,000...making the financing $14,000. Assuming perfect credit, what impact does this typically have on the interest rate of the new car loan, if any.

Public Comments

1. It depends on so many factors. There are plenty of deals out there. If you have good credit, negative equity should not be an issue. Lenders like to lend money to people with good credit, as they know the risk is low. Just see what you get offered and then decide if it is reasonable.
2. around 7 % still depends on a lot of factors of credit even if perfect etc..
3. I was in this same situation. Depending on your down payment it should work as if the car you are buying is 14,000. The 3,000 doesn't have a different interest rate then the rest of your loan. Hope this makes sense. I've had good luck here... http://auto.deal4-you.com See ya.