How much do you owe on your trade-in? Naturally, if your trade-in is paid off, it is much easier to trade it in. That means you have the free and clear Title with no lien on the vehicle. However, if you still owe money on your car, find out how much you owe the bank. Contact your lender and ask for the pay-off amount on your auto loan. Then compare what you owe to how much it will be worth as a trade in.
Trade In Your Car Quick and Easy
- If your car is worth more than what you owe, then you can use the positive equity as a down payment on your new vehicle. This will help lower your monthly payments on the new auto. If your trade in is worth less than what you owe, you can still trade it in, but you'll need to cover the down payment on your new car loan or add your negative equity to your new loan.
- If the car you are currently driving is a leased vehicle, you can still trade in the leased auto to buy a new one. Your Lithia Motors Auto Dealer will access the leased car's trade in value and pay off the lease company. If it is worth more than the payoff to the leasing company, the positive equity counts toward your new car.
What is your Trade-in Worth?
Before you make a trip down to the dealership, there are several things you should know. The most important thing is to know the value of your trade-in. You can find this out by going online and visiting an industry guide such as Kelley Blue Book (KBB). You'll need to enter your trade-in's year, make, model, mileage and condition. Over 50 percent of trade-in vehicles qualify as "good condition." You can also check out similar guides on Edmunds.com and the National Automobile Dealers Association Guide.
At Lithia.com, we use a tool called Trade Pending. This tool shows you the market value of your vehicle for sale in your area. This is one of the most accurate trade-in tools.
Negative Factors that can affect your Trade-In Value:
- Vehicles with high miles over 100,000
- Warning lights on dashboard
- Rips in the seats, dashboard, an odor or stains
- Dings, dents, missing parts
Positive Factors that can affect your Trade-In Value:
- Updated features like additional packages, navigation, remote start, sunroof, etc.
- Lower miles than 12,000 per year
- Newer tires without any wear on them
- Desirable model and trim that is hard to find
Let's get Started:
You can find the Lithia Motors Auto Dealer near you by using our Dealer Locator right here. Once you have scheduled a visit at any of our dealerships, please bring the following with you:
- Valid state-issued photo ID/driver's license.
- Valid and current vehicle registration.
- Vehicle's title or payoff information.
- All keys and remotes.
Here's How it Works
With Driveway.com there are no tricks and there's no haggling over price. Ditch the classified section and Craigslist meet-ups to sell your car. Driveway's professional staff is fully vetted and finds the trade-in value for your auto. Then Driveway.com offers you cash for your car or you can use it to trade for a new vehicle at any of the over 260 Lithia Motors Auto Dealerships across the country. You'll get an offer you can trust and it is good for seven days. Driveway.com takes the guesswork out so you get paid fast. Best of all, Driveway.com will get you the most value for your trade-in with an instant offer and an easy pick-up or drop-off experience. It's quick and easy!
Let Lithia Help!
Whether you are interested in getting cash for your car, want to trade it in for a new vehicle, or you're looking for a Certified Pre-Owned vehicle or car lease, Lithia Auto is here for you. You can buy or trade through Driveway.com or visit your local Lithia Auto dealer.
Lithia Motors is one of the largest providers of personal transportation solutions in the U.S. and is among the fastest growing companies in the Fortune 500. At Lithia.com we want to make your car selling and buying experience quick and easy with no hassles. Because at Lithia Motors, we want you as a customer for life!
