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After finding the perfect new or pre-owned vehicle for your Mission adventures, it’s time to begin the financing process. When you begin financing, it’s likely our team members will ask you if you’ve got a vehicle you need to trade-in. If you do, great!
Trading in your vehicle can often help lower the monthly car payment if you’ve got positive equity on your vehicle. But, what if you’re not sure how to trade in a car? Don’t worry, we’ve got you covered. Today, the finance experts from Burns Motors, Ltd. will help you learn how to trade in a car so that you can get behind the wheel of your dream ride!
Before we touch on how to trade in your car, it’s important that you understand equity. When you value your trade, you’ll get a fair estimate of your vehicle’s worth. If that amount is higher than the amount you owe on your vehicle loan, then you have positive equity. On the other hand, if your trade-in value is worth less than the amount of money you owe on your auto loan, then you have what’s considered negative equity.
Both positive and negative equity can often be applied directly towards your new vehicle loan. However, positive equity will reduce your monthly payments, whereas negative equity will likely raise it. Fortunately, the experts from our finance center can help you determine what your next best steps will be when you decide to trade in your vehicle.
At Burns Motors, Ltd., we strive to make your car-buying experience as simple as possible. One of the ways we do this is by making your trade-in process straightforward and hassle-free. Let’s take a look at how to trade in your car at our dealership:
So, what’re you waiting for? Get started today at Burns Motors, Ltd.. Our McAllen dealership can’t wait to help you with your trade-in process and we promise to always be transparent and honest. To get more information, feel free to contact us online!
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