Many Apex drivers aren’t aware that you can still trade in a car you still owe on based on the general trade-in process. When you learn how to trade in a car that is not paid off, you’ll notice there are additional steps to take beyond the typical servicing of your vehicle and cleaning up its appearance. At Hendrick Cadillac Cary near Morrisville, learn how to trade in a car you still owe on in a few simple steps. Read on below to find out how to trade in a car that is not paid off.
Before you learn how to trade in a car you still owe on, you will need to determine if you have negative or positive equity:
To determine your equity amount, you’ll need to find out how much you still owe on your current vehicle, find out how much your vehicle is worth, and weigh your trade-in offer amounts. If your offer is higher than you owe, you have positive equity. If it is lower, then the opposite is true.
Our finance team has determined a few ways on how to trade in a car you still owe on in the Durham area:
Contact us at Hendrick Cadillac Cary when you’re ready to trade-in your vehicle! We’ll help you make the best decision for your finances — sometimes, the best option is just to wait until you’ve paid off your vehicle and trade it in at that point. Whenever you decide to move forward with your trade, our dealership is known for making top market trade-in offers. Explore our new and nationwide pre-owned inventories to find your next ride!
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