Can You Trade In a Financed Car?


Wondering if you can trade in a financed car for lease? Turns out you absolutely can! There’s a simple trade-in process that we’ve outlined below, along with some helpful information about rolling over an auto loan. However, be sure to keep in mind that if you trade in your financed vehicle, you still have to pay its remaining balance – the loan doesn’t simply go away. For more information on this process, be sure to check out our two finance centers, which have plenty of online and in-person help available. 



How Does Trading In a Financed Car Work?

  1. Your monthly statement will tell how much you owe on your current vehicle.
  2. Using our website’s Value Your Trade tool, estimate the value of your vehicle. Keep in mind that this is an estimate, and may change after we physically inspect your car.
  3. If your auto loan’s balance is less than our trade-in offer, you can apply the leftover money towards a new vehicle – for example, if you owe $10,000 on your current vehicle and we offer you $12,000 for it, you can pay off your loan and end up with an extra $2,000 to put towards a new car!
  4. If your auto loan’s balance is more than our trade-in offer (i.e. if you owe more than we’re willing to offer for your current vehicle), you’ll still owe money on the car you’re trading in. You can pay this off before purchasing a new car or by rolling over the balance into your next auto loan – see below for more details.

Rolling Over an Auto Loan

Rolling over an auto loan means your dealership will pay off your current vehicle’s loan, no matter the cost. This means that the remaining balance will be charged back to you via your next car – in other words, the amount will get added to the loan for your next vehicle. This results in a greater amount for you to pay later, so think carefully before choosing this option.

Turn to Celebration Kia for Your Next Vehicle

If you have any questions about the financing or the leasing processes, feel free to contact our office for more information. You can also check out our new vehicle leasing specials for great deals updated all the time on your next Kia!


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