Many Fitchburg drivers aren’t sure how to trade in a car that is not paid off. You’ll find that while the trade-in process is pretty straightforward when your car is completely paid off, the process of trading in a car you still owe on has a few more steps. Here, Ron Bouchard Chrysler Dodge RAM explains the steps of how to trade in a car that’s not paid off, and if you have any questions, feel free to contact our finance team.
The first thing you need to do when learning how to trade in a car that is not paid off is to determine which of these two situations apply to you:
To determine if you have positive or negative equity, you’ll need to learn how much you still owe on your current car and how much the car is worth. You can use Kelley Blue Book® values or use the Ron Bouchard Chrysler Dodge RAM value-your-trade tool. If the value estimate is less than the amount you owe, then you have negative equity. However, if it is more than what you still owe, then good news: you have positive equity!
If you have positive equity, you’re in the most ideal position for trading your car to a Leominster dealership. However, if you have negative equity, you’ll need to decide how to move forward using one of the options below.
How do you trade in a car that you still owe on if you have negative equity? There are several options:
No matter which option you choose, Ron Bouchard Chrysler Dodge RAM recommends you always read the contract carefully before signing it!
If you have more questions about how to trade in a car that you still owe on, contact us at Ron Bouchard Chrysler Dodge RAM today. From a brand new Dodge to a pre-owned Chrysler, we have what you’re looking for. Check out our new car specials and reach out to us today!
The RAM 1500 is known for its rugged capabilities and reliability, but what is it like to spend time inside the cabin during a Leominster commute or Fitchburg job site? Depending on the configuration, the 2024 RAM 1500 can be optioned from the base Tradesman work truck to the luxurious Limited to the hardcore…
While the new RAM 1500 offers impressive capabilities, the bold 2024 RAM 2500 is built for work offering the performance required of Leominster job sites and Fitchburg families who tow their toys to their favorite off-road spot. As with the RAM 1500, the heavy-duty RAM 2500 similar trim levels offer many of the same…
Looking for a rugged pickup truck that can take on any Leominster job with ease? The new 2024 Ram 1500 towing capacity places it squarely in best-in-class territory, meaning you’ll be able to tow more, haul more, and work harder than ever before. Just how much can a Ram 1500 tow? When properly equipped,…