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Can you trade in a financed car even if you haven’t finished paying off your loan? Yes, it’s possible to trade in your financed vehicle at a Clarkston-area Chevrolet dealership. So how does trading in a financed car work? The remaining balance on your old loan will be rolled into a new loan. If the balance is less than your vehicle’s trade-in value, that amount will be credited toward your car. Learn more about trading in a financed car with this from the Bowman Chevrolet finance center, and don’t hesitate to reach out for more car-buying tips from our team of auto finance experts!
If the balance on your loan is more than your car’s value, can you trade in a financed car? You can, but your dealership must agree to pay off the remainder when they buy the vehicle from you. For example, let’s say you owe $9,000 on a vehicle that’s currently worth $8,000. The dealership may agree to purchase the car from you for $8,000 and add the remaining $1,000 to your new loan.
You know that trading in a financed car is possible, but can you trade in a financed car for lease in the same way as a new financing loan? Yes, Waterford drivers can trade in a financed car for lease in much the same way. But keep in mind that whether you’re trading in a financed car for lease or loan, your dealership is much likelier to be on board if your loan is in good standing.
If you’re feeling unsure about the right path forward, we’re happy to help you navigate trading in a financed car. At Bowman Chevrolet, our goal is for you to drive home to Grand Blanc in a Chevy Bolt EV or Chevy Traverse that’s perfect for your family. See how much you can save with our current special offers, and stop by to visit us in Clarkston today!
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