Can You Trade in a Financed Car?
How Does Trading In a Financed Car Work?
When you are ready to trade in your car in West Palm Beach, assess how much your car is worth with a value estimating tool. If you owe less on your auto loan than the estimated value of your vehicle, selling your vehicle to the dealer means you can use the money from the sale to pay off the loan and have a little left over to go towards your next vehicle purchase.
What Does “Rolling Over” A Loan Mean?
Rolling over a loan means that a dealership “pays off” your loan on the vehicle you are selling to them. But the loan doesn’t truly go away–the cost gets added onto your loan for the next car you purchase at that dealership. Essentially, if you want to trade up right now but can’t pay off the balance of your loan in one chunk, rolling over a loan to your next car means you are paying for a past loan and a current loan at the same time.
Visit Earl Stewart Toyota of North Palm Beach Today!
If you are ready for your next car in Palm Beach Gardens, use our handy payment calculator to estimate what your monthly payments might be. Our finance team is standing by to help you with your next vehicle purchase. Contact us for a test drive today!
Learn More at Earl Stewart Toyota of North Palm Beach
If you’re in the market for a new car in Palm Beach County, you may be wondering what to do with your old one. Some people opt to keep both while others decide to use their current vehicle as a trade-in. If you are opting for the latter, you’ll want to do everything you can…
If you are in Palm Beach Gardens or West Palm Beach looking forward to Valentine’s Day, or you just want to surprise your loved one with a date night, check out our guide to some of the best restaurants for a romantic dinner in the Palm Beach County area. Contact Us Café Boulud Located in the Brazilian Court Hotel…
The short answer to the question “can you trade in a financed car” is YES. But, you must pay off the balance of your car loan before you trade in your car for a new vehicle. Learn more about the process of trading in your financed vehicle before getting started. If you have any questions along…