v6stanggoddess

I am hoping one of you will be able to answer this. I cannot trade in my car when I still owe on it right? So say I wanted to get a new Boss 302 if it comes out in say 2008 or 2009. And yet I still owed say 5,000. They will not let me trade it in yet?


Second question. Is there a way to always keep my engine shiny and new looking? I hear some people spray it down with water. Could I take it to a place that cleans engines to make them always look new?


THANKS!

petepete

you can trade in your car if you owe on it. they just apply trade in value to whats left on the car usually they will just say they paid off your carrso your trade in does not help your downpayment. sometimes they build some of what you owe into your downpayment. As for taking it to a place to make engine nice, around here there are hand car washes that do it for like 100 bucks comes with wax and stuff too or you can just do it yourself. just take a rag to it and wipe off all the dirt

QWKYNUF

Just to clarify, you can always trade in your car - it just may not always make sense to do so.

If what you owe on a car is less than it's value, the difference (positive equity) is applied to your down payment.

For example, say the trade in value of your car is $15,000 and you owe $9,000 to your lender. When you trade in your car, the dealer sends $9,000 to the bank, then uses the left over $6,000 as a down payment on your new car.

The other possibility would be if you owed more on your car than it was worth (negative equity).

Say the trade in is still $15,000, but you owe $18,000 - not uncommon when you do theses $0 down loans and try to trade after a year. This time (assuming you can get credit approval) the dealer sends $18,000 to your bank, then adds the difference between trade in and amount owed ($3,000) to your new loan. In essence, your new $22,000 V6 mustang would go up to $25,000.

Does that make sense?

QWKYNUF

v6stanggoddess

Yeah it makes perfect sense. Thanks very much. So now I know at least I CAN trade in my car even if I owe on it. The negative equity thing is really a drag though. But thank you.

Thanks Pete for the engine care help!

Unbound

That's the way I traded in my 99 for the 05, I still owed on it.
As for cleaning your engine. I've talked to many others about cleaning the engine and being skeptical as to what they told me, I finally broke down and tried what they said because so many do it this way.
I took it to the do-it-yourself car wash which is the only car wash any of my cars have seen, (no auto car washes) opened the hood, set the spray on soap and blasted the be-jesus outta my engine, then switched to plain water and rinsed it off. Later after it dried I wiped all the plastic down with a cleaner/protecter.
Worked like a charm, just don't do any of this with a hot engine. When your car engine has sat for a few hours or first thing in the day drive straight to the car wash so it's not too warm and blast away. You may get a little steam like I did but don't fret.
You can't do this with an older carbonated engine without covering up various parts under the hood but newer cars is/was fine, and cheap.
JL

ricklmesa@cox.net

Well cleaning the engine. Just spray it off lightly with water ( cover all the important stuff, electrical, oil fill, spark plugs,blower and what not) then let it dry and get some amoral or some of the Meguires Natrual Shine ( little red bottle) and use it on all the black parts of the car and it will come out looking sharp. I did mine yesterday LOL

Unbound

I agree with ricklmesa, if you have an older car, plastic rap your electrical components. (search on Google for engine cleaning your cars year and make) With the new Mustang everything is so well sealed you can blast away. I do my 05 like this every three outer car washes. But just make sure when washing any engine block that it is no more than warm to the touch.

windveilpete

HEHEHE, that post takes me back. I used to have a '65 impala - it had a mechanical distributor. I washed the engine at the car wash. Needless to say, I sat there a GOOD while before it would start. My interior was flawless by the time I could get it started and leave.