Thinking about trading-in your car? If so, you're probably wondering, "Can you trade-in a car at a different dealership than the one you bought it from?" The answer is yes, you can, and if you complete the trade at a Heritage MileOne | Autogroup dealership, you can expect top dollar in return - here's how.
How Does the Trade-In Process Work?
Even though you're trading in your car at a different dealership than where you bought it, the process is straightforward. In fact, it's common practice for a car owner to, say, trade in their Volkswagen sedan at our car dealership near Westminster, MD.
What makes the process straightforward is that, in most cases, the lease or loan for your car is held by a bank or financing company, and not the original dealership. This allows us to purchase the vehicle directly from the lender in most cases, without involving the original dealership.
The smoothest type of trade-in is one where you own the car outright and are no longer making payments on it. If this isn't the case, we'll need to talk further about how much you still owe, the interest rate you're paying, and the loan term, before we can finalize your trade.
Can I Trade In a Leased Car?
You can trade in a leased car, but there are a couple of things to keep in mind. For one, we'll need to know how much you still owe (i.e. your payoff amount). This number includes the vehicle's residual value plus any fees specified in the lease contract.
We'll then assess your Mazda SUV or truck and establish a fair trade-in price based on the vehicle's market value and condition. This leads to the second thing to keep in mind: for the best possible outcome, the trade-in value of your car should exceed the payoff amount. If it doesn't, you may be required to cover the difference.
Trade In Your Car at a Heritage Dealership Near Baltimore, MD
With 29 dealerships across the Mid-Atlantic Region, Heritage | MileOne Autogroup is the ideal place to trade in your car. Contact your nearest Heritage dealership for more information. If you're interested in putting your old car's equity towards the purchase of a new vehicle, our Heritage car finance experts can make that happen!