Trading in a Car With Negative Equity

Most of us grow to love our cars. After months and years of ownership, we learn all of it’s quirks and sometimes even find out we had features that we didn’t realize we had months after the purchase. There comes a time, however, when driving the same vehicle just doesn’t make sense anymore. Once a vehicle has become mechanically unreliable, or the amount of money going into the vehicle outweighs its value, it’s time to consider trading it in for a newer vehicle.

Drop the Payment specializes in helping you lower your car payment, but our network of dealers are also equipped to be able to give you an appraisal value on your vehicle and talk to you about whether you should consider trading your vehicle in for something newer. Is your motor burning oil? A/C no longer works or doesn’t blow to full capacity? Don’t have Bluetooth or satellite radio options? Are you driving more for work with a vehicle that isn’t as fuel efficient as a newer car? Adding new members to your family that your current vehicle can no longer handle? These are all scenarios to consider when deciding whether it is time to trade in your vehicle.

Depending on how long you’ve had your vehicle, you may still have an auto loan payment and it’s possible that your vehicle could be worth less than the remaining balance on your loan. If this is the case, your vehicle has negative equity. Drop the Payment representatives work with customers who are ready to trade-in with negative equity in their vehicle every single day. Options may still be available to you to lower your monthly car payment, so don’t give up! Our Drop the Payment network of dealers can work with you to determine how much negative equity you have and show you what your financing and purchasing options could be.

Ready to pursue your dream vehicle while also lowering your current monthly vehicle payment? Let Drop the Payment see what we can do for you. Complete our free and easy-to-use application form and get results instantly.

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