Hyundai Finance Tips: Can I Trade in a Car That is Not Paid Off?

If you’re looking for a new Hyundai car and want to make it more affordable, trade-ins are a great Hyundai finance option. But can you still trade in your car if you have an auto loan that isn’t paid off? Here’s how trade-ins work for cars that aren’t paid off, and how Sansone Hyundai’s finance center can help!

How Do Trade-ins Work?

If you’re ready to upgrade your used car in favor of something new, a trade-in might work for you. Through a trade-in, you can choose to exchange your older car for a new one, and the dealer will subtract the value of your old car from the cost of the new one. This is a great way to get a new car at a substantially reduced price and get rid of your old car all in one go.

What If the Car Isn’t Paid Off?

When buying a car, many people take out auto loans to make the payment process easier and avoid having to pay the whole price of the car at once. But what if you took out an auto loan on your old car and haven’t finished paying it off? Can you still trade it in? The answer is yes. Here’s how your loan affects your trade-in:

• If the value of your trade-in is more than you owe: You’re in luck! You can finish paying off your loan and apply the difference to the purchase of your new car.
• If the value of your trade-in is less than you owe: You can still trade in your car. You’ll just need to work the remaining balance into the financing contract for your new car.

Hyundai Financing at Sansone Hyundai

You can start the Hyundai trade-in process at Sansone Hyundai. We’re happy to help you exchange your pre-owned Hyundai car for one of the new models on our lot. Visit our finance center today to find out how much your trade-in is worth!

Posted in Uncategorized | No Comments »