Can You Trade In a Financed Car?

Young Family Are Signing A Contract To Buy A Car.

If you’re shopping for a new vehicle near San Antonio and wondering “can you trade in a financed car?” you’ll be pleased to know that the answer is yes! Keep in mind, though, that the loan on your current vehicle won’t go away when you trade in – you’ll still need to settle the balance. Explore your options for trading in a financed car with a loan balance with the finance professionals at INFINITI of Boerne, and contact us with any questions along the way!

How Does Trading In a Financed Car Work?

  1. To begin trading in a financed car, you’ll first need to determine the leftover balance on your auto loan – it should be listed on your monthly statement.
  2. Use the trade-in value tool at INFINITI of Boerne or a similar option from a source like Kelley Blue Book for an estimate on your current vehicle’s value. Keep in mind that this is only an estimate, and it’s not until your vehicle is inspected that a dealership will give you an official value for it.
  3. If the amount that remains on your auto loan in New Braunfels is less than the trade-in offer, you’ll have money left over that will go toward purchasing your new vehicle.
    • For example, let’s say you still owe $7,000 on your car loan. If the dealership gives you $8,000 to purchase the new vehicle, you’ll be able to pay off your loan and apply the remaining $1,000 to your next purchase.
  4. If the remaining balance on your car loan is more than your trade-in offer, you’ll still owe money on your car – this is what’s known as negative equity. You can either pay off the remainder in full before purchasing your new vehicle, or you might be able to roll the balance over onto your next auto loan with the dealership you’re shopping from.

What Does it Mean to “Roll Over” a Loan?

When you’re attempting to trade in a financed car for lease and a dealership claims they will pay off your old loan no matter how much your remaining balance is, it’s called “rolling over” a loan. Know that this is too good to be true – the price is simply added to your new loan on your next car purchase, meaning you’re paying the dealership back for your old loan while paying off the new loan.

Find Your Next Vehicle at INFINITI of Boerne

Ready to trade in a financed car for lease near San Marcos? Head to our Boerne showroom to get started today, but be sure to browse our new vehicle specials and apply for financing beforehand! If you have lingering questions about trading in a financed car, getting a lease vs. buying, consult our car-buying tips or reach out to us at (210) 477-1775.

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(210) 477-1775

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32275 Interstate 10 • Boerne, TX 78006

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INFINITI of Boerne

32275 Interstate 10 Boerne, TX

Phone: (210) 477-1775


Phone: (210) 488-1784

32275 Interstate 10 Boerne, TX


Phone: (210) 477-1775

32275 Interstate 10 Boerne, TX
29.7835702 -98.7423907
INFINITI of Boerne 29.7835702, -98.7423907.