Ok so I wasn't really sure where I should ask this question so I figured I would try here. About 6 months ago my wife and I bought a nice car that was well suited to our family. The price was within our budget, it was the perfect size, and had all the right safety features. Now all of a sudden my brother will more than likely be losing custody of his two kids and they will be put up for adoption. They have already been in foster care one other time for about 6 months and instead of them going back into a foster family until they can be adopted, my wife and I just want to adopt them. The problem is, the car that we purchased before is not going to be a good option for our family if that happens. How does it work to trade in a car that is worth less than the loan? So say the dealer would pay me $10,000 for the car, and I owe $15,000 on it, is there a chance I could finance another $10,000 car from them and they could add the additional $5,000 to my new loan? I'm not really sure how this works since I never expected to be in this situation. Thanks in advance.
Submitted November 14, 2017 at 04:03PM by superstar1990 http://ift.tt/2zE6vSQ
