DRIVE IT RIGHT...DRIVE WITH PERFORMANCE
We know that life doesn’t always go how you expect, so when you need to upgrade to a new vehicle and you’re not sure what to do with your current vehicle, it can be confusing. But the good news is you can trade in your vehicle, even if it isn’t paid off! If you’re unsure of the process or you want to learn more about how trading in your vehicle works, contact our finance center for more information!
To see how you can trade in a car that’s not paid off, you will have to first determine which of the two situations you are apply to you:
To calculate which equity you have, you’ll need to know how much you still owe on your current vehicle. You can check with our trade-in value calculator and see how much you are getting from trade-in offers. If the offer is less than the amount you owe, then it is negative equity. However, if it is more than how much you still owe, then it is positive.
Having positive equity is obviously the ideal in this situation but the trade-in process stays more of less the same either way. However, if you have negative equity, you will need to consider your options and see which one will work best for your financial situation.
For Whippany drivers who have negative equity, how do they trade in their car that’s not paid off? There are a couple of options available:
No matter which options you end up going with, we recommend you always read the contract carefully before signing a new car loan.
If you still aren’t sure what the best course of action is for you, don’t hesitate to contact us. A member of our finance center team will be more than happy to help you find the right option for your budget and needs. So if you’re looking for even more savings, you can take advantage of our trade-in value calculator and we’ll help you learn how to trade in a car you still owe on. No matter what you choose, we’re excited to get you behind the wheel of a vehicle you’ll love.