If you are in the market for a new vehicle around Cherry Hill, you may be interested in trading in your current car. While the process is pretty simple and straightforward if that vehicle is already paid off, it can be a bit more complex if you are still paying on the loan. Wondering how to trade in a car you still owe on? The finance experts at Nissan of Turnersville explain how to trade in a car that is not paid off below.
Before you learn how to trade in a car that is not paid off, you need to know if you have positive or negative equity on your vehicle loan.
If you have positive equity, then you’re in the most ideal position. Trading in your vehicle should still be a pretty simple process. If this is the case, you can trade in your current car without owing more on the loan. You may even have money left over that can help cover the cost of your next car from us.
However, if you have negative equity, things may be trickier. Let’s take a closer look at how to trade in a car you still owe on with negative equity.
You have a few different options available to you if you have negative equity on your current vehicle.
If you still have questions about how to trade in a car that is not paid off, reach out to the team at Nissan of Turnersville today. We would be more than happy to answer any questions you have about auto financing.
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