Absolutely, you can trade in a financed car for a lease, or for another vehicle! But there’s an important thing to remember: trading in your car doesn’t make the loan disappear; you still need to pay off the balance. If you’re considering trading in a car with an outstanding loan, discover your options and get expert advice from the authorized Land Rover finance center near Venice. Whether you have questions about car loans, interest rates, selling, leasing, or credit scores, we’re here to help.
So, how does trading in a financed car work? Here are the steps to follow for trading in a financed car:
Rolling over a loan is a process where a dealership offers to pay off your existing loan regardless of the amount you owe. However, this can be deceptive because the old loan’s balance is added to your new loan for your next vehicle. In essence, you end up paying back the dealership for the previous loan while simultaneously paying off the new one. When you want to trade in a financed car for lease, it’s important to keep these ideas in mind as you proceed forward.
When you’re ready to trade in your financed car, whether for a lease or a new Land Rover, check out our outstanding new vehicle specials in Santa Monica. For more valuable car buying tips and to prepare for your next purchase in Malibu, start the financing process online and count on us for a seamless and informed experience!
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