Yes, you can trade in a financed car — but remember that the loan on your car will not just go away after it’s been traded in; the balance needs to get paid off. Learn how to trade in a financed car with a remaining loan balance with the financial experts at the Hyundai finance center. Don’t hesitate to reach out to us with questions about car loans and interest rates, selling a car, leasing a car, credit scores, and more in Minneapolis.
How does trading in a financed car work? Here is the process broken down:
When you roll over an auto loan, it means that the dealership is paying off the old loan no matter how much you owe. However, that amount gets added to your new loan on the vehicle that you’re buying at the dealership. This means you’re paying the dealership back for the previous and new loan.
Is it time to trade in your financed car for a lease or auto loan and upgrade your ride with a new Hyundai vehicle? Be sure to explore our new vehicle specials and get pre-approved for financing before visiting our dealership. We can’t wait to help you find the vehicle that’s best suited for you. Have any questions in the meantime? Give us a call!
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