Cash, or loan amount (or both), paid with trade-in

[ecom1210]

The amount received for the trade-in was used to pay off existing loan with $1500 left over which was used as down payment on new loan.  What value should I enter in this field?  The total trade-in value or the amount not needed to pay off existing loan ($1500)

[MargaretL]

It is the amount that you have to pay after subtracting the value of your trade-in. For example, you bought the car for 20K, you are given 5k for the trade in and use $1.5K as down payment, the amount entered is $13,500.