Can You Trade In a Financed Car?

Excited Couple Reviewing Trade in Offer with Salesman
 

The short answer is yes you can trade in a financed car! However one must note that just because you’ve traded in your vehicle does not mean that the balance you are meant to pay simply disappears. Learn more about our process with our finance team at Riverside Buick GMC near Rome and contact us if you have any further questions about subjects such as auto loans, monthly payments, credit scores, positive or negative equity, selling your car, trading in a car, whether it is a good idea to sell your car to a private seller, and more. 

How Does Trading In a Financed Car Work?

  1. Determine the remaining balance on your own, typically found on your monthly statements. 
  2. Use the “Value Your Trade” tool to find out the estimate on the value of your current vehicle. Please note that this is only an estimate, and our Acworth service technicians finish an inspection. 
  3. If the balance on your auto loan is less than the trade-in amount, then you’ll have money left over to either pocket or go towards purchasing a vehicle from our dealership. 
  4. If the remaining balance on your auto loan is more than the trade-in amount, you’ll have negative equity, meaning that you owe money on the car. You can pay off the remainder of the money before you buy your new car, or you can rollover the balance into your next auto loan with the dealer. 

What Does “Rolling Over” A Loan Mean?

A Rollover loan is when a dealership decides to pay off your old loan, even if you owe a substantive amount of money. However, be careful, as the price of your old loan gets added onto your newer loan as you pay off the loan on your new car.

Visit Us at Riverside Buick GMC to Trade in a Financed Car for Lease

When you are ready to trade in your vehicle for lease, be sure to check out our new vehicle specials, our car buying tips, or our finance application. Visit our Canton dealership today. 

 

More from Riverside Buick GMC

  • What Are the 2022 GMC Sierra Models?

      The 2022 GMC Sierra is a popular light-duty pickup truck that delivers excellent performance while providing Rome drivers a great deal of interior style and capacity. Review the towing capacity, mpg ratings, and features to decide which is right for you.    New Sierra for SaleContact Us   GMC Sierra Pro, SLE, Elevation, &…

  • What Are the 2022 GMC Acadia Trim Levels?

      The 2022 GMC Acadia is available in SLE, SLT, AT4, and Denali configurations, each of these incredible options depending on your lifestyle and budget in the Rome area. Choose between the front or all-wheel drive options, and learn more about the driver assistance features and advanced safety technologies such as the side blind zone…

  • 2022 GMC Yukon Interior

      If you’re looking to maximize room, features, and fun in Rome, the vehicle to pick is the 2022 GMC Yukon. This incredible SUV is back and ready to rumble in 2022 with a host of advanced technological features and some of the hottest style on the planet in the GMC-exclusive Denali trim.   View…

AudioEye
Search
Contact

Contact Us

Main 770-382-5910 Sales 770-382-5910
125 S Dixie Ave
Cartersville, GA 30120
Garage

Garage

Your garage is empty.
Save some vehicles to get started!
Search
AudioEye
Contact Us

Contact Us

Main 770-382-5910 Sales 770-382-5910
125 S Dixie Ave
Cartersville, GA 30120
Garage

Garage

Your garage is empty.
Save some vehicles to get started!
Riverside Buick GMC 34.1637, -84.7895.