Traded-in New Car with Used Old Car?
Out of curiosity, what will be the effect if someone just recently bought a new car and after a few months let's say 6 months planned to sell it and just buy a used old car?
I will need your thoughts about this, will this approach just to save more money instead of paying high car monthly mortgage won't really affect one's person credit points if that person traded-in its new car with used old car? On my own thought I guess not because the remaining car mortgage balance will be paid off by the used old car finance bank, if the bank agreed to finance used car or if its finance value reaches the bank's minimum amount which usually at least equal or above $7,000.00.
