Trade-In FAQ’s
What is the Trade-In Value of My Car?
If you’re wondering, “What is my used car worth,” the answer is just a few clicks away! Using our handy value your trade-in calculator, you can get an estimated car trade-in value from the comfort of your home or office. Simply input some information about your car into the trade-in value calculator, as well as your contact information, and you’ll have an estimate right away. Keep in mind, there are a few factors that affect trade-in value, including:
- Mileage
- Mechanical condition
- Car features
- Exterior/Interior condition
- Market landscape
How Do You Trade in a Car?
After you’ve received your trade-in estimate, it’s time for an appraisal of your vehicle! Our St. Louis dealership can take care of this step for you. We’ll examine the condition of your car and make sure it’s a good fit for our used car inventory. When you visit for your car’s appraisal, be sure to bring your trade-in estimate!
Once we’ve examined your car, you can negotiate or accept our offer and finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. In fact, there are a couple of major advantages to selling your car to a dealership, including:
- You can haggle at a dealership. We encourage our customers to always do their own research to make sure they’re getting the most reasonable trade-in offers.
- Can you trade in a car you still owe on? You can with a dealership. If you’re upside down on your car loan, you can consolidate what’s owed on your current car with the price of your new ride.
Value Your Trade-In: FAQs
Can you trade in a financed car?
Yes, you can. If you have positive equity on the car (meaning it’s worth more than what you owe),
you can trade it in easily. The dealer will purchase the car and pay off the loan, then apply
the remaining value toward your new vehicle. If you have negative equity (the car is worth less
than what you owe), the dealer may still buy the car and pay off the loan, but the difference
will be rolled into your new loan.
How soon can you trade in a financed car?
There is no strict time limit, but it’s generally best to wait until you have positive equity
before trading in a financed car.
What does it mean to be “upside down” on a car loan?
Being “upside down” on a car loan means you have negative equity. For example, if you owe
$30,000 on a car that is worth $25,000, you are upside down by $5,000.
Can I trade in my car for a cheaper car?
Yes. If you still owe money, you can trade it in for a cheaper car. For example, if you owe
$15,000 and the car is worth $20,000, the dealer can pay off the loan and apply the $5,000
difference toward your new loan. If you own the car outright, you are free to trade it in for
a cheaper car at any time.
Make Lou Fusz Mazda Your Automotive Partner Today!
If you have questions about how to trade in a car that is paid off, or how to get the best possible offer, don’t hesitate to contact us online or give us a call at 314-994-1500. While you’re here, be sure to browse our current pre-owned car specials to start shopping for your next great offer in the St. Louis area!