Question
With auto loans, it is common for buyers to trade in their cars after the outstanding principal on the car loan exceeds the re-sale value
With auto loans, it is common for buyers to trade in their cars after the outstanding principal on the car loan exceeds the re-sale value of the used car. After which loan payment will it be profitable for you to trade-in your car? Why?(hint: the car should be sold if it can be sold for more than the balance owed to the dealer)
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
