Can I trade in my car if I still owe money on it?

Can you trade in your car if you still owe money? Yes!

Dealers will pay off your current loan during the trade. 

If your car’s worth less than what you owe (upside down), you’ll need to either: 

• Pay the difference upfront, or 

• Roll it into your new loan — but beware, this means financing old debt!

Know your payoff and your car’s value before trading to avoid surprises.