How to Trade in a Car That is Not Paid Off?

Woman with Laptop at Restaurant

 

How do you trade-in a vehicle that you owe money on? Many East Wenatchee drivers can trade in vehicles new to them for cash. When the trade-in process is pretty straightforward when your vehicle is paid off, the process is different if your loan balance is negative. Learn how to trade in a car that is not paid off with our finance team at Sangster Motors, and apply for financing if you want a head start on your auto loans. 

 

 

Do You Have Positive or Negative Equity? 

When you trade-in a vehicle that still has a payoff amount left on it, you have to determine whether you are in:

  • Positive equity: your car is worth more than what you still owe
  • Negative equity: your car is worth less than what you still owe 

Basically, If the offer is less than the amount you owe, then it is negative equity. However, if it is more than how much you still owe, then it is positive. 

Trading in a Car with Negative Equity

When you check out our vehicles with negative equity, you can trade-in your vehicle even still. Learn more about car purchases with negative equity below: 

  • Make up the difference you still owe after accounting for the trade-in price. This option is perfect when you are looking to change your situation for the better. 
  • Another option is to transfer the amount you still owe over to a new loan. Most Leavenworth drivers choose this option when they have negative equity and want to trade in their current vehicle that is not paid off. This can increase your monthly payments and you still will be paying for a vehicle that is traded in. 
  • If you still have negative equity with a higher appraisal value, then negotiate with the initial dealership you went to. Provide the dealer with any offers you get from third parties and ask the dealer for a value of the difference you still own. That way you can sell your vehicle to a third-party dealer while still having the difference transferred to your new loan.

Learn More About the Trade-in Process with Sangster Motors 

If you still have questions about trading in your car that’s not paid off, reach out to us at Sangster Motors near Wenatchee, WA for more information.

More from Sangster Motors

  • 2024 GMC Hummer EV Interior

    With its unrivaled off-road capabilities and iconic design, the Hummer has always stood as a symbol of adventure. Soon, the streets of East Wenatchee will welcome back the GMC Hummer EV, taking the legacy to new heights. This upcoming model builds upon the foundation of its predecessor, elevating the experience with groundbreaking features like CrabWalk and…

  • 2024 GMC Hummer EV Range

    GMC’s revival of the Hummer brand marks a significant shift towards electric mobility, with the introduction of the 2024 Hummer EV range and Truck models. Sangster Motors is thrilled to offer you a glimpse into the future of electric performance, boasting an exceptional blend of strength and efficiency. Whether you opt for the robust truck or…

  • 2024 GMC Canyon Towing Capacity

    The 2024 GMC Canyon is a midsize pickup truck that is a popular choice for those who require a truck capable of towing heavy equipment around East Wenatchee. How much can the 2024 GMC Canyon tow? When properly equipped, its towing capacity maxes out at an impressive 7,700 pounds. That’s enough for you to tow a…

Sangster Motors 47.4338, -120.3237.