Do you know how to trade in a car that’s not paid off?

If you’re ready to trade in your car and trade up into something bigger, better, more fuel-efficient, more teched-out, or all of the above, we’re here to help. Not only do we have a great selection of new Toyotas at Toyota of Clermont, but we’re also ready to make you a top-dollar cash offer on your old car, even if you decide you’d rather buy your new one somewhere else. But what happens if you still owe money on your old car? Can you trade in a car that’s not paid off? Our Clermont Toyota dealership is here with answers.

how to trade in a car that's not paid off

How to trade in a car that’s not paid off

The short answer: Yes. You can absolutely trade in a car that’s not paid off. But how do you do it? It’s a lot simpler than you think, especially if you trade in at Toyota of Clermont, and we’re here to walk you through the process.

When you’re planning to trade in a car that’s not paid off, you have two steps to take before you’re ready to hand over the keys.

Step #1: Find out how much your current payoff is – how much do you owe on your car now? You can check your loan statement or call the company that the loan is with to find out the real-time value of your vehicle; you can also get a ten-day payoff amount (basically, if you traded in your car in the next ten days, this amount would be what you owe on it). It’s a good idea to check with your loan company so you can get the accurate payoff amount and ensure your most current payment has been applied.

Step #2: Find out how much your car is worth. Next, you need to find out how much your current car is worth. We have a convenient online tool to find out how much your car is worth that you can use, and you can also schedule a free car appraisal at Toyota of Clermont. Our used car director will take 15 minutes to inspect your vehicle and make you a cash offer on the spot, even if you don’t buy your new Toyota from us. It really is that simple.

Once you know how much you currently owe on your car and how much it’s worth, it’s time to make a decision on your course of action.

  • If you owe more than what your car is worth, you can decide if you want to pay the difference out of pocket or if you’d like to roll that difference into your next loan amount and pay it off over time. We work with multiple lenders at Toyota of Clermont and can help you find the best finance rates for your budget.
  • If your car is worth more than what you owe, you can take the cash and put it toward a down payment on a new car (or go wild at the outlets, up to you).

Once you’ve decided, we can help you find the perfect new Toyota for your drive time needs. You can shop online, preorder, or shop in person.

Trade in and trade up at Toyota of Clermont today

Ready to start the process? We can help you trade in your car that’s not paid off, find a new Toyota, and more. Call Toyota of Clermont today at (352) 404-7000, shop online, or stop by and see us in person! We’re conveniently located at 16851 State Road 50 in between the Florida Turnpike and US Highway 27. We’re open until 10 pm every single day, so schedule your trade-in appraisal today!