Looking over financing forms

Can You Trade In a Financed Car?

Yes, you can trade in a financed car — but remember, your auto loan will not go away when you’ve traded in your vehicle. The balance has to get paid off. Learn “how does trading in a finance car work” from the financial experts at Baytown Nissan. Then, peruse our new vehicle inventory to find the vehicle that’s going to take your drives around Baytown to the next level.

Trading In a Financed Car Work: How Does It Work?

  1. Know the remaining balance on your loan. You will find the amount listed on your monthly statement.
  2. Use our Value Your Trade tool to get an estimate on the value of your current vehicle. Keep in mind that this is just an estimate, and only until the vehicle is physically inspected will the dealership establish your vehicle’s worth. 
  3. If the remaining amount of your auto loan is less than the trade-in offer from the dealership, then you can use the leftover money to put towards purchasing your next vehicle.
  4. However, If the remaining balance is more than your trade-in offer, you will owe that amount before buying the new vehicle. You also have the option of rolling over the balance into your next auto loan.

What Does It Mean to “Roll Over” a Loan?

This means that you will pay off your previous loan by adding it to your new loan on the next vehicle that you’re buying. You’ll be paying the dealership back for the old loan at the same time that you’re paying for your new vehicle.

Trust Baytown Nissan for Excellent Car-Buying Tips!

Whether you’re looking for tips on trading in a financed car, want to trade in a financed car for a lease, or choosing between getting a lease vs. buying, we have you covered! Be sure to explore our new vehicle specials and get pre-approved for financing before visiting our Baytown dealership to test drive your next vehicle.

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