Gmac..trade.. Finance?

[jtown888]

Hey guys,

 

Hoping you can help me out here

 

I have a new 2008 silverado from the dealer through GMAC. Now can I trade this truck for a different used truck from that dealship even that i just started this 72 month finance just 3 months ago? I just need a diesel now.

[certifiedcustom]

If your credit is good they should write the paper on you. FICO over 700 is needed for GMAC to write paper today, unlike three months ago. Good luck on the trade.

[jtown888]

Do they need to go throught that again to get my approved becuase my truck cost me $42,500 CAD and ive have it for 3 months, if they give me $32,000 for it and the used truck I want is $30,000 can i just trade straight across without doing more credit checks and so on?

[alaska511]

Do they need to go throught that again to get my approved becuase my truck cost me $42,500 CAD and ive have it for 3 months, if they give me $32,000 for it and the used truck I want is $30,000 can i just trade straight across without doing more credit checks and so on?

 

 

No, it's a completely new contract. They have to stick the $10K on top of the $30K for the used truck, and then you are asking them to float you a $42K loan for that used truck.

 

 

Good luck.