How to Trade in a Car That Is Not Paid Off?

Finance Paperwork with Glasses

 

At Hendrick Buick GMC Cary, many of our customers aren’t always aware of the trade-in process when it comes to a vehicle that may not be fully paid off yet. Learn how to trade in a car you still owe on with our finance team. We’ll help you make the smartest decision for your budget and driving needs!

 

 

Is Your Vehicle’s Equity Positive or Negative?

If you’re in the Apex area and you’re exploring how to trade in a car that is not paid off, you will need to figure out if you have negative or positive equity on your current vehicle:

  • Positive equity: Your car is worth more than what you still owe
  • Negative equity: Your car is worth less than what you still owe

Trading in a Car with Negative Equity

Any Holly Springs drivers who have negative equity still have a few options for trading in their vehicle. Here is how to trade in a car that is not paid off:

  • Make up the difference you still owe after accounting for the trade-in price. If you can afford to make up the difference at the time of trade-in, this option can easily work in your favor.
  • Another option is to transfer the amount you still owe over to a new loan. Many Raleigh drivers choose this option due to it being one of the easiest choices. Keep in mind that transferring the amount to a new loan will cause your monthly payments to increase.
  • If those two options aren’t for you, then you should seek out a dealership that can offer a competitive trade-in offer. At Hendrick Buick GMC Cary, we have a nationwide used inventory with thousands of vehicles — that means when we acquire your vehicle, we’re able to give you a higher trade-in offer. A higher trade-in offer can help offset negative equity.

Learn More About the Trade-in Process with Hendrick Buick GMC Cary

Now that you know how to trade in a car you still owe on, contact us at Hendrick Buick GMC Cary once you’ve browsed our new vehicle inventory.

 

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Hendrick Vehicle Disclaimer:

 

$749.00 Dealer Administrative Fee not included in advertised price.

All prices exclude all taxes, tag, title, registration fees and government fees. Out of state buyers are responsible for all taxes and government fees and title/registration fees in the state where the vehicle will be registered. All prices include all manufacturer to dealer incentives, which the dealer retains unless otherwise specifically provided. Dealer not responsible for errors and omissions; all offers subject to change without notice; please confirm listings with dealer.

All vehicles may not be physically located at this dealership but may be available for delivery through this location. Transportation charges may apply. Please contact the dealership for more specific information. All vehicles are subject to prior sale.

 

Additional Disclaimers:

 


*Applies to select GMC Models, the 2023 and 2024 GMC Sierra 1500. Length of contract limited. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery by 3/4/24. **Only on the 5.3L EcoTec3 V8 Engine. For trade assistance, you must show proof of ownership and trade in a 2010 model year or newer vehicle. Not available with lease and some other offers. Take new retail delivery by 3/4/24.. ***Deferred monthly payments for 90 days. Excludes residents of PA. Must finance with GM Financial. Some customers may not qualify. Down payment required at signing, if applicable. Finance charges accrue from date of financing. Not available with lease and some other offers. Take new retail delivery by 3/4/24.

*Length of contract limited. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery by 3/4/24.**MUST BE A CURRENT OWNER OF A 2010 MODEL YEAR OR NEWER NON-GM VEHICLE OR A CURRENT LESSEE OF A 2019 MODEL YEAR OR NEWER NON-GM VEHICLE FOR AT LEAST 30 DAYS PRIOR TO NEW VEHICLE SALE. Not available with lease and some other offers. Take new retail delivery by 3/4/24. ***Deferred monthly payments for 90 days. Excludes residents of PA. Must finance with GM Financial. Some customers may not qualify. Down payment required at signing, if applicable. Finance charges accrue from date of financing. Not available with lease and some other offers. Take new retail delivery by 3/4/24.

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