Can You Trade in a Financed Car?

Person signing a contract

Can you trade in a financed car? The short answer is yes. But the more involved question is, “How does trading in a financed car work?” It’s more complicated than just trading in a car, and there are a few stipulations to keep in mind for trading in a financed car. But it is possible for Cincinnati, OH drivers, and Tom Gill Chevrolet can help.

How Does Trading in a Financed Car Work?

Now knowing that trading in a car is possible, you might still be asking how does trading in a financed car work? Trading in a financed car can be a smooth transition if the remaining amount you owe is less than what your vehicle is worth.

Consider this:

  • Imagine you owe $9,000 and the dealership offers you $10,000.
  • With that amount, your car would be paid off and you’d have $1000 to put towards your next new vehicle.
  • If you have a model in mind, our trade-in value tool will allow you to see if trading in your financed car would be smart financially.
  • We also offer competitive lease rates, if you wanted to trade in a financed car for a lease.

But what if your car’s value is less than the remainder of your loan? You might need to roll over your loan into a new car loan.

cars key calculator

What Does it Mean to “Roll Over” a Loan?

Rolling over a loan means that the Independence dealer you’re working with will pay off the remainder of your current loan. Keep in mind, that amount doesn’t go away; the money is added onto the new car loan. Even though you do pay the amount in full eventually, this can still be a great way to find a new car that fits your current needs in Florence.

Visit Tom Gill Chevrolet for All Your Financing Needs!

If you’d like to have more information on trading in a financed car, or considering trading in a financed car for a lease, contact us! Our finance team is committed to helping you find the best possible deal. Tom Gill Chevrolet is looking forward to helping you find your next vehicle!

More from Tom Gill Chevrolet

  • 2025 Chevrolet Trax Configurations

    The 2025 Chevrolet Trax is one of the most affordable models within our new vehicle inventory, with a starting MSRP of only $20,400. And moving up from the base model you’ll notice that the 2025 Chevy Trax configurations offer more and more capability while remaining budget-friendly. If you want to learn more about which of…

  • 2024 Chevy Silverado 1500 MPG

    The 2024 Chevy Silverado 1500 effortlessly handles light-duty tasks in Cincinnati, OH, whether you’re hauling cargo or towing up to 9,500 pounds to your next job site or weekend getaway in the UP or across the border into Toronto. What’s more, the 2024 Chevy Silverado 1500 mpg ensures savings at the gas pump, allowing you to…

  • The 2024 Chevy Colorado Bed Size

    Continuing a tradition of dependability and versatile hauling options, the 2024 Chevy Colorado is a must-have for any small business owner, sub-contractor, or seasoned outdoors enthusiast. One of the most dynamic features for the prospective buyer is the Chevy Colorado bed size.  The Chevy Colorado bed size plays a significant role in the versatile features…


Tom Gill Chevrolet 39.00352, -84.64447.