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How to Trade in a Car That’s Not Paid Off


Financing Signing  

Maybe you’re ready to move on to a new vehicle, but it’s going to be awhile before you get to that last scheduled payment on the car you have now. If that’s the case, you’re probably interested in learning how to trade in a car you still owe on. The experts in our finance center have helped numerous Joliet customers to do just that, so let’s talk about how to trade in a car that’s not paid off.

   

How to Trade in a Car That’s Not Paid Off – Positive Equity

When you owe less on a car than what it is worth, that is called having “positive equity”. Here’s how to trade in a car you still owe on when it’s worth more than what you still owe: Suppose you owe $3,000 on your old car, but it is worth $4,000. The dealer will pay what is still owed on your old loan and apply the remaining $1,000 towards your down payment for your new car.

How to Trade in a Car That’s Not Paid Off – Negative Equity

What about when you owe more than what the car is worth? We’ve helped lots of Plainfield customers in that situation to trade in their cars. Suppose you owe $3,000 on your old car, but it’s only worth $2,000. Either you pay that $1,000 difference before buying the new car, or the dealer takes over your old loan and adds that $1,000 to what you’ll owe for your new car.

How to Trade in a Car You Still Owe On – The Process

  • Determine how much you still owe on your current auto loan.
  • Calculate the trade in value of your car with our online tool.
  • If you owe more than the trade in value, determine whether you can pay off that difference, or you need to ask us to roll that difference on to your new loan. If you owe less on your car than the trade in value, just bring it in and pick out your new car.

Let the Finance Department at Ron Tirapelli Ford Help

We make it easy to trade in your car, regardless of what you owe on it. You can even apply for financing online. Our dealership is just a short drive away from Frankfurt. So, drop by or contact us today!ready to move

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, and license charges. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week. MSRP may not represent the actual price at which vehicles are sold in this trade area.

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, license charges and documentation fee of $358.03. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week. MSRP may not represent the actual price at which vehicles are sold in this trade area.