We gladly accept trade-ins for quality vehicles for drivers who want to upgrade their San Leandro ride. You could even sell your vehicle to us whether you buy one from us or not in Oakland. But, do you know how to trade in a car that is not paid off? It is possible, even though it’s not something we see as often as a straight trade-in without owing money on a loan.
Learn how to trade in a car you still owe on from the team at One Toyota of Oakland. Our finance team can handle the details after you find the perfect car from our inventory.
First things first. Before you learn how to trade in a car you still owe on, determine what kind of equity you have on your current auto loan.
Calculate which equity you have by finding out how much you still owe on your current vehicle. Then, look at the value of your model according to Kelley Blue Book® values. Then, see what you can get from any trade-in offers. Negative equity occurs if the offer is less than the amount you owe on the loan. Positive equity means the offer is worth more than what is left on your auto loan.
As we mentioned, positive equity is better for your trade-in process around Hayward. Negative equity is a bit harder, but still doable as you learn how to trade in a car that is not paid off.
Now, we show you how to trade in a car you still owe for your situation in Alameda and beyond. Follow these simple steps:
Are you ready to trade in your current vehicle for something newer? Contact us or call 888-964-0576 to talk to our finance team or to test-drive our new or used vehicles. We’re happy to help in any way we can.
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