Can You Trade In a Financed Car?

Excited Couple Reviewing Trade in Offer with Salesman

 

The answer to, “Can you trade in a financed car” in Connellsville is a resounding yes! Trading in a financed car is something people do all the time, but there are some catches. For instance, this doesn’t mean your loan just goes away. You’ve got options when it comes to trading in a financed car and Tri-Star Nissan wants to go over all of them in the interest of transparency and honesty. How does trading in a financed car work? Can you trade in a financed car for a lease? Tri-Star Nissan has all the answers about finance and new cars!

How Does Trading In a Financed Car Work?

  1. Determine how much balance is left on your Pittsburgh loan. This is typically on your monthly loan statement.
  2. Use our Value Your Trade tool or one from a place like KBB to get an estimate on your vehicle’s remaining value. Note: this is just an estimate, and your actual cash offer will depend on how the inspection goes.
  3. If you’ve got more money on your trade than is on the loan, that extra money will go toward your next car. That is, if you still owe $10,000 but you’re getting $12,000 for your car, that’s a $2,000 surplus that goes toward the next car.
  4. On the contrary, if you’ve got less money on your trade than is on the loan, you’ve still got money left on your loan that has to be paid or will be rolled over to the next loan.

What Does “Rolling Over” A Loan Mean?

The answer to, “Can you trade in a financed car” and “Can I trade in a financed car for a lease?” are both yes. But you might also be asking, “What does rolling over a loan mean?” Greensburg drivers will sometimes hear that a dealership will pay off their old loan no matter how much they owe. This is too good to be true because the price gets added to the loan on your next car. This means you pay the dealer back for the old loan at the same time you pay off your new loan.

Tri-Star Nissan Will Get You a Great New Vehicle

Looking for the perfect new vehicle? Come on over to Tri-Star Nissan and take a look. Trading in a financed car is easy when you go with us. Do you still have questions similar to, “Can you trade in a financed car?” We’re here to help. Contact us today!

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