I have a used car trade in how does that affect me obtaining an auto or car loan? I know the remaining payoff.

If you owe more cash on the trade than it is worth the balance will have to be rolled into the new auto loan, banks have limits as to how much negative equity they will finance. The more negative equity you have the more money down you will need.

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by AutoLoan on Monday, May 17th, 2010
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