Can You Trade In a Financed Car?

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Yes, you can! Just be aware that the vehicle’s loan will not go away because you have traded it in; you are required to pay off that balance. If you want to trade in a vehicle you’re making payments on, you will want to read through the process of trading in your financed vehicle before starting the process. Our finance center can answer all of your questions about trading in a financed car. Visit Riverside Chevy Cadillac for more information on lease payments, interest rates, and the price of the car you’re looking to trade in.

How Does Trading In a Financed Car Work?

If the remaining loan balance is less than what the vehicle is worth, the dealer purchasing the car will give you enough to pay off the loan. For example, if you still owe $7,000 on the car and the dealer offers you $8,000 for it, then the loan can be paid off, and the vehicle will be transferred to the dealership buying the car. The $1,000 is taken off the price of your new vehicle.

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Couple signing car finance documents

What Does “Rolling Over” A Loan Mean?

Rolling over a loan means the dealership is paying off the old loan no matter what the balance is. However, this is too good to be true since the price gets added to your new loan on the next vehicle your purchase. You will then pay back the dealership as you’re paying the new loan.

Visit Riverside Chevy Cadillac Today!

When you’re ready to trade in your car, contact our team at Riverside Chevy Cadillac. We’ll get you behind the wheel of the car that suits your driving needs and budget the best. Our finance team is standing by to help with your next new or used purchase. Contact us today with any questions!

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(706) 295-9090

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100 Hwy 411 E • Rome, GA 30161

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Riverside Chevy Cadillac

100 Hwy 411 E Rome, GA

Phone: (706) 295-9090


Phone: (888) 380-5309

100 Hwy 411 E Rome, GA


Phone: (866) 717-4450

100 Hwy 411 E Rome, GA


Phone: (888) 380-2856

100 Hwy 411 E Rome, GA
34.22236 -85.1519833
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Riverside Chevy Cadillac
Riverside Chevy Cadillac
100 Hwy 411 E
Rome, GA, 30161 US
(706) 295-9090
Riverside Chevy Cadillac 34.22236, -85.1519833.