Author Topic: Rolling negative equity into a 0% GMAC Auto Loan???  (Read 1724 times)

goldenrider

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Rolling negative equity into a 0% GMAC Auto Loan???
« on: February 16, 2008, 04:42:03 AM »
Can this be done?  I am looking at a left over truck that currently has 0% financing available.  The dealer is offering it @ invoice, so the deal seems legit.  My only problem is my negative equity right now.....in the area 5000!  Ouch I know, stupid mistake made a few years ago.  Anyhow, the current loan is also with GMAC.  If I were them, I would not sacrifice the 4.5% they were earning on my negative equity and allow me to roll it into 0%, but I'm hoping they allow it in order to push one more new car.  One more thing, the LTV would be in the neighborhood 112%, relative to the MSRP.  Any input on this?


TEK

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Rolling negative equity into a 0% GMAC Auto Loan???
« Reply #1 on: February 21, 2008, 10:26:24 PM »
It is possible, usually they add on 3-6 payments on the end.  I don't know GMAC limits on LTV but I have done this up to 125% before.