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Gibbons drivers looking to value your trade can use our trade-in calculator to see what your car is worth. Simply type in the year, make, model, and an estimate of the vehicle’s condition, for an objective estimate of what we’ll pay in cash or credit when you trade-in your car. All of our estimates are based on Kelley Blue Book values, so you can be sure you’re getting the most accurate estimate of the going market rate. Once you know how much cash or credit you can expect, if you’re considering getting a new vehicle, be sure to explore our inventory, apply for pre-approval, and use our monthly payment calculator.
Our estimates are pulled straight from Kelley Blue Book. When Lamont drivers value your trade to see what your car is worth, you can trust you’re going to be getting the most accurate appraisal available. When you trade your car, its value will be determined by:
Whether Leduc drivers are just looking to value your trade to determine what your car is worth before you trade your car, you’re confused about part of the process, or you’re trying to get financing with blemished credit, Southview Acura is happy to help. While you’re here, be sure to explore our car buying tips for informative reads about the advantages of leasing and more! No matter what your needs are, we’d love to help you make an educated decision when you purchase your next vehicle and to get you a deal to best competitors.
Q: Can you trade in a financed car?
A: Yes, you can. If you have positive equity on the car (as in it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, then they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.
Q: How soon can you trade in a financed car?
A: There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
Q: What does it mean to be “upside down” on a car loan?
A: Being “upside down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.
Q: Can I trade in my car for a cheaper car?
A: If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, there’s nothing stopping you from trading it in for a cheaper car; you can do what you’d like with it.