Can I roll the balance of a GMAC car loan into a Toyota Financial Services car loan?

Considering a trade-in value of about $10,000, the remaining balance of the loan from GMAC will be about $3,000. Can this be rolled into a Toyota Financial Services car loan?

Can I roll the balance of a GMAC car loan into a Toyota Financial Services car loan?
Absolutely.. happens all the time. The Toyota dealer will pay off the GMAC loan and then secure the new amount financed through Toyota.





A website I've recommended in the past would be...





http://www.safelinked.info/go.php?link=a...





Good Luck.
Reply:The $3,000 can be rolled into any new auto loan assuming the you qualify for the additional amount to finance. Lender will look at 'loan-to-value', which means if you are trying to buy a car that has an MSRP of only $13,000, then rolling in $3,000 effects the loan differently than if you were purchasing a car with an MSRP of $45,000. I hope this helps and you can email me if you have questions.
Reply:yes. The dealership will pay off the GMAC loan and add the amount they paid to your new loan. Be careful that they don't add and fractional points to the interest while you're sitting at the table.
Reply:I would say that you stand a better chance if you were to go to your credit union. Variables include strength of your credit, buying price of new vehicle. Toyota is not notorious for large discounts the way GM is so if the Toyota Dealer hold a high gross on you, your chances are not too good.