Can I trade in unpaid car but choose the bank to finance with?

[kakilakslick]

I have a 2003 Mitsubishi Eclipse GS with 40K miles. I want to trade it in for an SUV but I would rather finance it with my bank than whatever the dealership has. Im still paying on my current car. How can I get this done?

[haroldwsmithjr@att.net]

all you need to do is go to your bank and see a loan officer and getr pre approved

[shawn9600]

Most dealerships will use the trade-in value to pay your car off. You are free to use any bank you choose as long as they do financing for autos.

[skiddly diddly]

Your bank will probably require a purchase and sales agreement showing your trade-in being paid off and the agreed upon price of the new vehicle. Then they will give it to a loan officer and approve or not in minutes. They don't like to give pre-approvals for money, not knowing what you are going to spend it on. For instance you might buy something that isn't worth what you are paying, especially with used cars. Personally I prefer credit unions, try one and you'll see that regular banks are crooks.
And know exactly what you are willing to pay each month, don't budge from that or shop outside that price range. Once you test drive something and love it you're hooked, that's what the dealer is counting on.