Can You Trade in a Financed Car?

Excited Couple Reviewing Trade in Offer with Salesman

Many people in Dallas ask, “can you trade in a financed car?” You can trade-in a financed car, but trading in a financed car tends to have a few more complicating details than that. For instance, your loan doesn’t go away just because you’re trading in your financed car, meaning you might have to pay in your future. Also, if you’re trading your car in, there are some steps you’ll want to take. Bob Moore Auto Group has the scoop on this plus a place you can get your financial situation in order.

How Does Trading In a Financed Car Work?

If you’re a Edmond driver who wants to trade in a financed car for a lease or perhaps for another loan entirely, you’ve still got the rest of the loan to pay off. For instance, if you owe $7,000 and you’re offered $6,000 for your car, that’s going to be a $1,000 sum you’ll need to pay to move forward.

On the other hand, if you owe $7,000 and are offered $8,000, you’re $1,000 ahead, and that surplus $1,000 will be applied to the purchase price of your next car. You can talk to us to get your car valued. We’ve even got a handy value your trade tool that can get you closer to the car of your dreams.

“Rolling Over” A Loan

If your dealer offers to pay the remainder of your old loan, no matter how much you owe, this goes by the name of “rolling over” the loan. You’ll want to know that if you get this process done in Tulsa, you’ll have the price tacked onto the new loan on your next car. That means you’ll be paying the dealership back for covering your last loan through the payments you make on your next loan.

Bob Moore Auto Group: Your Finance People

When you’ve got money questions and want to get a car, the people you want to talk to are right here at Bob Moore Auto Group. We’ve got personnel who know how to get you through the car financing process. We finance just about everyone, so if you want to get a conversation going, it’s time to fill out our contact form. If you’re looking to learn more about the trade-in process and how to trade in your car, count on the team at our dealership to get you the answers. Stop by today!

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New vehicle pricing includes all offers and incentives. Tax, Title and Tags not included in vehicle prices shown and must be paid by the purchaser. While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at (405) 239-3581 or by visiting us at the dealership.

**With approved credit. Terms may vary. Monthly payments are only estimates derived from the vehicle price with a 72 month term, 5.9% interest and 20% downpayment.

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