Can You Trade In a Financed Car?

car salesman selling car to buyer
 

Our customers often ask us “how does trading in a financed car work?” or “can you even trade in a financed car at all?” The answer to both questions is yes, but there are some important details you should know if you’re considering upgrading a vehicle you’re still paying off. With that in mind, here’s everything you should know. Read on to learn more about our trade-in process, or simply contact us at Ron Sayer's Chrysler Jeep Dodge with additional questions. Got a trade but don’t know what to fix? We’ve got a handy guide waiting for you.

How Does Trading In a Financed Car Work?

There are several different scenarios that can happen when trading in a financed car. These are the most common:

  • Equity Payout: If you owe less on your car than it’s worth, we’ll pay for the value of your loan, and any additional equity will be paid out to you or applied against your new vehicle lease or loan. 
  • Loan Rollover: If you’ve ever heard a dealer in Blackfoot say they’ll pay your loan, no matter the amount, this is what they’re likely referring to. In a nutshell, a loan rollover adds the amount of your old loan to your new vehicle loan or lease. 
  • Trade-In With Negative Equity: Even if you owe more than your car is worth, you can still trade it in. If you do, though, you’ll have to continue making payments on it, in addition to the new lease or loan payments you make.

Why Trade In Your Financed Car?

We work hard to make the process of trading in any vehicle in Pocatello, financed or not, simple for you. For starters, our online credit application makes getting approved for an auto loan or lease quick and hassle-free. Many of our customers trade in old vehicles, even if they’re financed, because our brand-new CDJR vehicles feature the latest technologies, life-saving safety features, and amenities, not to mention efficient performance.

Learn About All Your Financing Options at Ron Sayer's Chrysler Jeep Dodge

If you’re looking to trade in a vehicle you’re still paying off, whether you want to trade in a financed car for a lease or trade in a financed car for a new car loan, we’ve got you covered! Unlike some dealers in the Idaho Falls area, we offer buy here pay here financing among other flexible financing options.

Contact Us to Value Your Trade

Curious to see if your trade is worth more than the payments you’re making? Contact us at Ron Sayer's Chrysler Jeep Dodge for assistance valuing your trade and trading in your financed car. We look forward to assisting you with your automotive financing needs. 

More from Ron Sayer's Chrysler Jeep Dodge

  • 2022 New Jeep Grand Cherokee L Configurations

      The New Jeep Grand Cherokee L, formally known as the Jeep Grand Cherokee L, is a three-row SUV that showcases a long list of impressive features. What’s more, there are six New Jeep Grand Cherokee L configurations, meaning that this lineup offers something for every SUV lover. Find out more about the New Jeep…

  • 2022 Jeep Gladiator Interior

      The 2022 Jeep Gladiator is all-new and it represents Jeep’s latest entry into the world of pickup trucks. If you’re on the hunt for a truck that’s both a work machine and knows how to hit the trails in Blackfoot, this just might be the truck for you. And with the 2022 Jeep Gladiator…

  • 2022 Grand Wagoneer Overview

      The all-terrain Grand Wagoneer SUV is not only built for the trails; it’s built for luxury as well! This new vehicle is available for a starting MSRP of $88,440* and you’ll get three rows with plenty of luxuries for Blackfoot. You’ll get a smooth ride, a plush interior, and plenty of towing as well….

Ron Sayer's Chrysler Jeep Dodge 43.499712, -112.030231.