Trading in a Financed Car

Is it time for you to upgrade from your current Sacramento commuter? After browsing through our comprehensive inventory of new and pre-owned vehicles, you’re likely wondering about your next steps. Well, there’s no need to worry when you have an expert team to assist! If you currently owe money on your vehicle, you can definitely still trade it in. However, you’ll want a professional team to assist as that means you likely have positive or negative equity in your vehicle.

Positive equity means your vehicle is worth more than you owe on the loan. On the flip side, negative equity means you owe more on the vehicle loan than your vehicle’s value. To determine your vehicle’s worth, you don’t have to drive from Roseville to our dealership, you can just use our trade-in tool to get started. Now that we’ve gotten that out of the way, are you wondering how to trade in a car that’s not paid off? Learn about the trade-in process today with Auburn Honda!

How To Trade in a Car That’s Not Paid Off

When you trade in a financed car that you still owe money on, you’ll want to have a knowledgeable finance team to work with you. The reason for this is an experienced team, like the one at our dealership, will be better equipped to provide you with financing options. Our experts have a great relationship with many of our lenders and we’ve worked with a variety of customers in the Citrus Heights area to know how to best assist you. With that being said, here’s how to trade in a car that’s not paid off at our dealership:

1. You’ll want to find your loan payoff amount. This balance can typically be found on your monthly statement or you can reach out to your lender for specifics.
2. After you use our trade-in tool, we’ll have you bring your vehicle in for an appraisal.
3. Once the appraisal is accepted, we’ll begin working with you to determine how to move forward after you’ve found a new vehicle you’ve liked.
4. If you have equity in your vehicle, we’ll use that amount towards your new vehicle loan. If you owe more than your vehicle’s worth, that negative equity will be added to your loan. If you have positive equity, that amount will also be added to your loan but can benefit you and decrease your monthly payments.
5. After we’ve determined your best option, we’ll assist you in completing your paperwork and you can be on your way with a new ride in no time!

Expert Automotive Financing Information Available Today!

Whether you need assistance with buying a vehicle or you just have general questions about vehicle trade-ins, you can count on the professionals from Auburn Honda to assist. We’re here to help and we look forward to providing you with expert automotive advice. Stop by today in Auburn for more information! If you have any questions, you can always reach out to us online for assistance. If you’re wondering how to sell your car to us, look no further!