The kinds of questions we get at Tacoma Dodge Chrysler Jeep Ram often pertain to auto financing, because letās face it, car finance solutions have many facets, some of which can be confusing. One question we field all the time is āCan you trade in a financed car?ā The answer is a big āYes!ā Trading in a financed car is sometimes thought of as a difficult or complex task, but the reality is much less scary than many people think. Learn more about your options for trading in a car that still has a loan balance with your local authorized Dodge, Chrysler, Jeep, Ram, Wagoneer finance center, and contact us if you have any questions about car loans and interest rates.
Whether you want to trade in a financed car for lease or a new purchased vehicle, the process is fairly similar in Spanaway and DuPont. Hereās what to expect:
Rolling over a loan is when a dealership offers to pay of your old vehicle for cash, thus satisfying any old lien requirements and qualifying you to buy a new vehicle with fresh financing. What generally happens is that a dealership will pay off the old loan so youāre in the clear, but then tack that same amount (plus interest) onto your next vehicle loan or lease payments.
Technically, you can trade in a financed car immediately after buying it. Thatās to say that there is no set amount of time that you need to keep the vehicle. However, itās important to do your research. Remember, you remain responsible for paying off the loan balance, and new cars depreciate significantly when you drive them off the lot. Trading in a relatively new car will likely leave you with negative equity, which we explained above.So, how soon can you trade in a used financed car in the Tacoma area? The same answer holds true, although your vehicle will experience far less depreciation than a new car. No matter the situation, make sure to assess whether it makes financial sense to trade in a financed car early.
Yes, you can trade in a car for a lease, even if it was financed. When you have positive equity, you can put the amount remaining after paying off your loan toward a lease on another vehicle. With negative equity, youāll likely want to take care of your loan balance before taking on a lease. Donāt hesitate to consult the associates at Tacoma Dodge Chrysler Jeep Ram to determine the best solution for you.
Ready to learn all there is to know about buying a car in or around Puyallup? The experts at Tacoma Dodge Chrysler Jeep Ram can help. After having valued your trade online, we invite you to explore our other online shopping tools, such as our finance payment calculator and online finance application.
The 2025 Jeep Wrangler specs are legendary with auto aficionados around Spanaway and DuPont, and the brand new 4xe electrified SUV brings a new spin to an old classic. What do we know about the Jeep Wrangler engine or Jeep Wrangler MPGe? The team at Tacoma Dodge Chrysler Jeep Ram would love to take you on a virtual…
Many Spanaway drivers return to Jeep SUVs again and again for their storied ruggedness, impeccable performance—and of course, their distinctive style. The 2025 Jeep Compass carries that same imaginative style in a smaller package. In this article, the team at Tacoma Dodge Chrysler Jeep Ram will cover everything you need to know about the new Jeep Compass exterior,…
After you’ve decided on which 2025 Jeep Wrangler trim you want, parsed through whether you want a two-door or four-door model, and after you’ve chosen between the gas-powered and 4xe powertrains, you still have a few more choices to make – namely, which of the abundant 2025 Jeep Wrangler colors you want for the…