Trade-ins and Delivery
Yes, We Take Trades!
Typically the delivery drivers will pick up your trade when we bring you your new vehicle. You'll work with the finance team in advance of delivery to arrange the details of the trade and determine a mutually agreeable trade-in value. Typically you'll exchange photos and videos with the finance team in order to asses your trade and get details on your new vehicle.
Trade Not Paid Off?
If your current vehicle is not quite paid off, we can often pay off the outstanding loan or lease and apply the remaining value of your vehicle towards your new purchase. This doesn't make sense in every situation, but if you've been making payments for a while you should have enough equity paid into the vehicle to make a trade worth your while.
If you haven't been making payments very long and want to trade in a vehicle you may be in a "negative equity" position. This essentially means that your vehicle is worth less in trade than you owe on it. In this situation we may still be able to help, but it may not be in your best interest financially. If the difference is small the finance team may be able to roll the outstanding amount owed into your new vehicle payment. If there is a large amount of negative equity it might be best to wait until your current vehicle is paid-off or nearly paid-off. The finance team will work with you to explore available options.
Lease Returns
Lease returns can sometimes be a bit more complicated. If the lease term is nearly up, you may wish to trade in the vehicle and add the remaining lease payments to a new auto loan. There might also be an option to pay a lease termination fee. If the lease is up, then return is a lot simpler. In some cases, your leased vehicle may be worth more than it's buyout price and you may be offered a premium to trade it in. This has been more common in the last few years with increasing inflation. The finance team will work with you to explore available lease return options.
You can try our financial calculators to estimate payments and help determine vehicle affordability in a variety or scenarios.