We'll Buy Your Vehicle, Even If You Don't Buy Another From Us! Find Out More

Can You Trade in a Financed Car?

Woman shaking mans hand over a car contract clipboard with car keys


The short answer is yes! Trading in a financed car is a viable option for many Providence drivers as long as you remember that your loan doesn’t go away after you trade in your vehicle. The team at INFINITI of Warwick’s finance center has put together a guide on how to trade in a financed car for lease, including the various options you can take depending on your remaining loan balance. 

How Does Trading in a Financed Car Work?

  1. Calculate how much you still have to pay on your loan, which you can usually find on your monthly statement.
  2. Estimate the value of your trade-in, either using our Value Your Trade tool or going through a third-party service like Kelley Blue Book. Keep in mind that the number you get is an estimate, not a confirmed value, and you’ll have to get your car inspected by the dealership to get a hard number.
  3. If your trade-in value is higher than your remaining loan balance, you’ll get the extra money to put towards your next vehicle at the dealership. For example, if your current vehicle is valued at $10,000 but you only owe $8,000 on your loan, you’ll get $2,000 towards your next car!
  4. If your trade-in value is lower than your remaining loan balance, you’ll be in what’s called negative equity. This means you still have money to pay off when you trade in your vehicle. Depending on what the dealer offers you, you can either roll the remaining balance over into your next loan or pay the remainder in full before buying a new vehicle. We’ve got more information on rolling over a loan below.

What Does “Rolling Over” a Loan Mean?

When you roll over a loan, the dealership pays off the remaining balance on your old loan regardless of the amount. However, they add the balance to your new vehicle’s loan – so you’re on the hook to pay the new loan amount and the old loan combined. This is a realistic option for plenty of Coventry drivers, but you should carefully consider your financial situation before making any commitments. 

Rely on INFINITI of Warwick for Your Next Vehicle

Whether you’re looking to trade in a financed car for lease or check out a new vehicle, INFINITI of Warwick is here to help! You can contact our office anytime with questions or for more information about the financing process. We also have new vehicle specials updated all the time if you’re looking to save on your next INFINITI, and we have plenty of other car buying tips, including advice on leasing, financing, and more.

More from INFINITI of Warwick

  • 2022 INFINITI QX80 Interior Pictures & Specs

    The 2022 INFINITI QX80 is a favorite among Providence drivers, and the beautifully designed QX80 interior is a major reason why! As you explore INFINITI QX80 interior pictures, you’ll find that this SUV’s cabin is the perfect balance of function and luxury. Equipped with state-of-the-art comfort and convenience features and offering spacious seating, you and…

  • 2022 INFINITI QX80 Cargo Space

      A full-size luxury SUV like the 2022 INFINITI QX80 can have you confidently taking on the Providence commute with powerful performance and a well-stocked interior. However, you may be wondering how the INFINITI QX80 cargo space fits into your lifestyle. With 95.1 cubic feet of cargo space and seating for up to eight passengers,…

  • 2022 INFINITI QX60 Towing Capacity

      If you’re in search of a high-end SUV that can deliver exceptional performance capabilities, you’ll be thoroughly impressed with the 2022 INFINITI QX60. The QX60 is notable for its luxurious interior and accessible price point, but the INFINITI QX60 towing capacity also gives drivers the upper hand on Warwick roadways.   View Inventory Contact…

Contact Us

(877) 361-2405

Call Now

1085 Centerville Rd • Warwick, RI 02886

Get Directions

Today's Hours:

Open Today! Sales: 9am-6pm

Open Today! Service: 7:30am-5pm

Open Today! Parts: 7:30am-5pm

INFINITI of Warwick 41.698358, -71.499528.