I have a car with a loan of 40k and i want to get a new car that is cheaper but i have bad credit ri

what do you think i should do?

I have a car with a loan of 40k and i want to get a new car that is cheaper but i have bad credit right now?

You CAN get a decent car loan, even with bad credit. I've done it, but you'll have to look around. That's one of the BIG mistakes people make...just taking the first offer that's given to them when they go to the dealer. Be smarter than that.

WARNING: DON'T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It's a better option, you don't have to take what they're offering if you don't want it, and it's better than dealing with the car dealer's people.

There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below...

http://www.axalda.info/bad-credit-car-lo...

I have a car with a loan of 40k and i want to get a new car that is cheaper but i have bad credit right now?

Sell it, and get something else. You will likely have negative balance to pay depending on the particular vehicle - if it's a ford, jag, mercedes, etc. - a lot, Lexus - much less.

I have a car with a loan of 40k and i want to get a new car that is cheaper but i have bad credit right now?

You have 2 choices.

1. Go to dealers and ask'em that you wanna trade it in.

Go to any dealers. It doesn't matter wheather your car is

a Lexus or Honda. Jus take it to any other dealers.

2. Go to your bank. Ask'em for auto loan. Let them know that

you are trading in your vehicle. And they should be able to

give you some answers.

As you trade in your vehicle, your credit should go up. Dealers know that and Banks know that. So based on your credit history, they should be able to make decision on it.

= ) Good luck

How do i know all this? Beacuse I'm an used car salesmen / New car broker. We get tons on trade-ins.

I have a car with a loan of 40k and i want to get a new car that is cheaper but i have bad credit right now?

Hey,

you can use car http://www.carauctions.co.nr ,to find cheap cars in auctions

Hope this helps you