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Absolutely! You can definitely trade in a financed car, however, you’ll want to keep in mind that trading in a car that is not fully paid off doesn’t make the loan payments go away. You will still be responsible for the balance. Learn more about trading in a car with a remaining loan balance, car loan and interest rates, leasing a car, credit scores, comprehensive insurance, and more with Victory Mitsubishi. Our finance team is standing by to help you with your automotive needs.
Wondering how trading in a car works? It isn’t too stressful. Simply follow the steps below.
Rolling over a loan is when a dealership says they will pay off your old loan no matter how much you owe. This sounds too good to be true, right? It is. What this really means is that the remaining cost will be added to your new loan on the next vehicle you buy. So in the end, you’ll be paying the dealership back for the old loan while simultaneously paying off your new vehicle.
Once you’re ready to trade in a financed car for a lease or when you’re ready to find a new vehicle to cruise around Westchester in, make the trip to Victory Mitsubishi. Apart from new vehicle specials and lease deals to make your new vehicle more affordable, we have a large inventory of new models to choose from so you can get behind the wheel of the vehicle that’s best for your driving needs. Have questions in the meantime? Contact us! We can give you advice on whether repaying your car loan early is a good option for you and more at Victory Mitsubishi.