You can most definitely trade in a financed car — but that doesn’t automatically wipe out your outstanding loan obligation; you will still have to pay off the balance unless your loan is rolled over by the dealership at which you’re trading in the vehicle. Learn more about your options for trading in a car that still has a loan balance with your local authorized Mercedes-Benz finance center, and contact us if you have any questions about car loans and interest rates, selling a car, leasing a car, credit scores, and more in Beverly Hills.
The process of trading in a financed car works more or less the same as trading in a vehicle with no outstanding liens with the exception of paying off the loan. Here are the details:
When a dealership rolls over your old loan regardless of how much you owe, they pay off the loan balance but tack this amount onto the cost of your new vehicle loan to make up the difference. In essence, you wind up paying off the remainder of your loan, but it’s done in such a way that’s more manageable than all at once in a lump sum.
Ready to step into a new Mercedes-Benz that’s just right for your Beverly Hills and Inglewood driving needs? Talk to our finance team today about your trade-in options, and be sure to check out our current selection of new vehicle specials while you’re at it. Then, apply for financing online.
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