So im planing on trading the 6er for a gt... i was talking with a friend about it and he said i would have to own my car for at least 6 months... because i would need to refanance??? Is this true?

 

i dont see why you would refinance the car anyways since you wont own it anymore? refinance basically means if you owe 15k on the car and its worth 20k you can take a loan on it to pay it off then youll have 5k left over. Since you wont own the car anymore there is no point in a refinance

 

Except its pry not worth $20k anymore im going to do the same thing trade up to a GT only after the winter early spring. My sister had bought a car awhile ago and before 6 months she switched for a camaro so i dont think you have to wait 6 months.

 

The dealer will pay off your current car (based on the pay-off figure provided by the current loan and its lender), figure out the trade value and you will have to acquire the funds for the new car based on the remaining balance (another, NEW loan). Shouldn't be a big deal, I think they do it all the time.

 

yea i called yesterday and they basicly told me the same thing... thanks...