Can You Trade In a Financed Car?

How Does Trading in a Financed Car Work?

Just how does trading in a financed car work? Let’s say you currently owe less than what the vehicle is worth and you want to trade in a financed car.

• Pretend you owe $9,000 on the car and Kareem Auto Sales Inc offers $10,000.
• After this transaction, your car debt is paid in full and $1,000 is put toward the new vehicle.
• You can either trade in a financed car for lease or a new loan.

What is “Rolling Over” a Loan?

When your dealer is willing to roll over your loan, it means they can help you pay off the remained of your old loan. This does not eliminate your debt, but tacks it onto the price of your new vehicle. Is this choice right for you? Our finance department can run through your options, but if you want to trade in a financed car very quickly, it can be a good way to accomplish that goal.

Trade In a Financed Car for Lease

It’s important to remember that when trading in a financed car, you still must pay off your current car loan. There’s no quick way to eliminate your car debt, so trading in a financed car may or may not benefit you. Another option is to trade in a financed car for lease to get a more competitive rate on your new model. Want to see if this method is right for you? Contact us to get started!

Get Personalized Financial Advice from Kareem Auto Sales Inc

So, can you trade in a financed car in the Folsom area? You can at Kareem Auto Sales Inc! Whether you have great credit or no credit, Kareem Auto Sales Inc of Sacramento can help you find the solutions to any financial problem. You can even learn more about your insurance coverage options. Fill out our online credit application to get started from the comfort of your own home!