Get Hours and Directions

Close

7450 W. Orchid Lane, Chandler, AZ, 85226

Get Directions  Map depicting surroundiing area of Mercedes-Benz of Chandler

Dealership Info

Phone Numbers:Sales Hours:
  • Mon - Fri9:00 AM - 7:00 PM
  • Sat9:00 AM - 6:00 PM
  • Sun11:00 AM - 5:00 PM
Service Hours:
  • Mon - Fri7:00 AM - 6:00 PM
  • Sat8:00 AM - 1:00 PM
  • SunClosed
Parts Hours:
  • Mon - Fri7:00 AM - 6:00 PM
  • Sat8:00 AM - 1:00 PM
  • SunClosed
Service

Can You Trade in a Financed Car?

Person Typing on Calculator

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.

Whether you’re working with an in-house financing department or a bank, be sure to value your trade-in and contact your lender to determine your final payoff value before proceeding. You should also maximize the value of your trade-in vehicle by repairing hail damage and fixing other issues.

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 find out if car insurance covers the car or the driver, and then contact us today to take the next step in the trade in process.

More from Mercedes-Benz of Chandler

  • 2021 Mercedes-Benz GLC Dimensions

    Passenger space and cargo volume can make or break an SUV, and luxurious, powerful models like the Mercedes-Benz GLC are certainly no exceptions. Thankfully, the Mercedes-Benz GLC dimensions are just one more area in which this segment leader excels. If you’re ready to conquer your to-dos in Phoenix and Gilbert, then look no further. We’ve…

  • Exploring the 2021 Mercedes-Benz E-Class Interior

    The Mercedes-Benz E-Class has attracted drivers from Phoenix to Tempe for as long as it’s been available, and its stunning interior appointments have always been one of its primary selling points. Now, after a significant mid-cycle refresh, the 2021 Mercedes-Benz E-Class interior is offering more than ever before. Don’t just take our word for it,…

  • 2020 Mercedes-Benz C-Class Interior Features

    The 2020 Mercedes-Benz C-Class is one of the entry-level models in our luxurious lineup of sedans, but that doesn’t mean its cabin leaves much to be desired! From the moment you step foot in the Mercedes-Benz C-Class interior, you’ll start to fall in love with its intuitive technologies, spacious dimensions, and life-improving convenience features! We’ll…

Saved Vehicles

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact Us

(866) 306-6297

Call Now

7450 W. Orchid Lane • Chandler, AZ 85226

Get Directions

Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Mercedes-Benz of Chandler 33.3252004, -111.9700597.