Value Your Trade
Do you want to know what your trade-in is really worth? There are many different online tools that will all give you different values for your vehicle. Some are high, and some are low, leading to frustration when you go to a dealership.
At Jeff Schmitt Buick GMC in Fairborn, Ohio, we do things differently. Submit your information below and one of our licensed appraisal experts will work with you to quickly and easily get you’re an accurate value that you can count on.
Get a real number from a real person and shop with confidence!
Value Your Trade-In: FAQs
Q: Can you trade in a financed car?
A: Yes, you can. If you have positive equity on the car (as in it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, then they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.
Q: How soon can you trade in a financed car?
A: There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
Q: What does it mean to be “upside down” on a car loan?
A: Being “upside down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.
Q: Can I trade in my car for a cheaper car?
A: If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, there’s nothing stopping you from trading it in for a cheaper car; you can do what you’d like with it.
Make Jeff Schmitt GMC Your Automotive Partner Today!
If you have questions about how to trade in a car that is paid off, or how to get the best possible offer, don’t hesitate to contact us online or give us a call at (866) 928-7697. While you’re here, be sure to browse our current new and pre-owned car specials to start shopping for your next great offer near Huber Heights!