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7450 W. Orchid Lane, Chandler, AZ, 85226

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Dealership Info

Phone Numbers:Sales Hours:
  • Mon - Fri8:00 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?

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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.

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.

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(844) 211-5749

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7450 W. Orchid Lane • Chandler, AZ 85226

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Today's Hours:

Open Today! Sales: 8am-7pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Mercedes-Benz of Chandler 33.3252004, -111.9700597.