How to Trade In a Car That Is Not Paid Off
Trade in a car- January 4, 2024
- Sales
- Posted by NeverSayNo
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Do you want a new car but still owe money on your current car? Can you trade in a financed car? Certainly, we take your current car in on trade before you’ve paid it off. How can you do it? Finally, we have the answers to help you understand how it’s done.
Yes, Trade in a financed car
Trade in your old car before you’ve paid it off. This is something that we do to help customers like this all the time. Don’t worry about paying off your car loan and waiting for the title to come before you come shopping with us.
How to trade in a financed car
Never Say No Auto makes it simple to trade in a financed car. In fact, we deal with your bank or financial institution in order to pay off the loan for you. You can use a loan calculator when figuring out car loan to see what you need to pay or when you come to us we take care of it for you. We’ll contact your current lender and get payoff information when calculating the financing terms on your new car loan. Take possession of the new car, and we deal with your lending institution to pay off the old loan so they will send us the Lien Release.
Don’t Forget
Lastly, when you’re trading in your used car you will have a new loan on the new car. While you don’t have to continue making payments on a car you traded in, you may have rolled over some of your negative equity into the new car loan.
Never Say No Auto will work with you if you are in a negative equity situation to help you trade in your car. For instance, you might owe $2,000 on your old car but you think it’s only worth $1,200. We might be able to give you $2,000 for your trade in so you don’t have any negative equity.
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