trade in car with low credit score?

can i trade in my car for a newer model if my credit score has dropped? i know i couldnt get a car with my score but what about trading mine in for a 5k more expensive car than my trade in value? What if i paid the difference could i continue payments on the newer one?

Public Comments

1. When you purchase a new car (with or without a trade-in), unless you pay for the new car in full, you will need a NEW loan. The new loan will be based on your current credit score. Since you have credit problems, you should keep your car, pay all of your debts on time, get out of debt, then consider buying only a car you can afford! Best wishes and good luck.
2. Your credit score will directly affect the interst rate you pay fo the new loan. If they qualify you at all for a loan they will probably hit you with a very high interest rate. My advices would be to keep the car you have now. Continue to drive it and repair it as necessary and do everything you can to fix your credit.