Can You Trade in a Financed Car?

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At Mercedes-Benz of Chandler, our clients often ask how trading in a financed vehicle works. Many ask if they can trade in a financed car at all. You’ve already signed on the dotted line, but our finance department knows your needs often evolve over time. So can you trade in a financed car? Yes, you can! And the team at our Mercedes-Benz dealership near Phoenix will help you find out how.

Positive Equity vs. Negative Equity

Before you begin the trade-in process, it’s essential for you to understand whether you have positive or negative equity on your loan. Either way, you’ll still be able to trade in your financed car — however, the process will be slightly different. If your car is worth more than you currently owe on your loan, then you have positive equity. If your car is worth less than the amount you owe, then you have negative equity. Be sure to value your trade in and contact your lender to determine your final payoff value before proceeding.

How to Trade in a Car with Positive Equity

This is the most simple process for trading in a financed car. When your car is worth more than the amount you owe, your trade-in will cover the rest of your finance plan, and the remainder will be put towards your new vehicle. So if you owe $25,000 on your current vehicle and it’s worth $35,000, then the remaining $25,000 will be paid off for you and the remaining $10,000 will go towards your next purchase.

How to Trade in a Car with Negative Equity

If you owe more on your loan than your car is worth, then you’ll have to make up the difference yourself. You can either do this by combining that amount with your next loan, or by paying off the remainder beforehand. The finance specialists at our Mercedes-Benz dealership near Gilbert will help you determine the best option for your lifestyle and budget.

Trade in Your Financed Car at Mercedes-Benz of Chandler

Whether you’re looking to trade in your finance car for a lease, or if you’re looking to finance a new, used or certified pre-owned Mercedes-Benz model, our experts at Mercedes-Benz of Chandler near Tempe will help you decide which option is best for you. Learn more about our auto finance options, and then contact us today to take the next step in the trade in process.

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7450 W. Orchid Lane • Chandler, AZ 85226

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Mercedes-Benz of Chandler

7450 W. Orchid Lane Chandler, AZ

Phone: (866) 306-6297

https://www.google.com/maps/place/Mercedes-Benz+of+Chandler/@33.3252004,-111.9722484,17z/data=!4m13!1m7!3m6!1s0x872b0437527b4d25:0xf7e52945f446daf!2s7450+W+Orchid+Ln,+Chandler,+AZ+85226!3b1!8m2!3d33.3252004!4d-111.9700597!3m4!1s0x0:0x6673b00a1ed8885b!8m2!3d33.3249507!4d-111.9704776

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7450 W. Orchid Lane Chandler, AZ

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Phone: (866) 306-6297

7450 W. Orchid Lane Chandler, AZ

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7450 W. Orchid Lane Chandler, AZ
33.3252004 -111.9700597
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Mercedes-Benz of Chandler
Mercedes-Benz of Chandler
7450 W. Orchid Lane
Chandler, AZ, 85226 US
(866) 306-6297
https://di-uploads-development.dealerinspire.com/mercedesbenzofchandlerredesign/uploads/2018/02/thumbnail-2.jpg
Mercedes-Benz of Chandler 33.3252004, -111.9700597.