Trade-In FAQ

What is the Trade-In Value of My Car? 

If you’re wondering “What is my pre-owned car worth?” the answer is just a few clicks away! Using our handy value your trade-in calculator you can get an estimated trade-in value from the comfort of your home or office. Simply input some information about your car into the trade-in value calculator as well as your contact information and you will have an estimate right away. Keep in mind there are a few factors that affect trade-in value.

  • Mileage 
  • Mechanical condition 
  • Car features 
  • Exterior/Interior condition 
  • Market landscape 

How Do You Trade in a Car?

After you have received your trade-in estimate it’s time for an appraisal of your vehicle. Porsche Shreveport will inspect the condition of your car and make sure it’s a good fit for our used car inventory. When you come in for your car’s appraisal be sure to bring your trade-in estimate.  

Once we have examined your car you can negotiate or accept our offer and then finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. There are a couple of major advantages to selling your car to a dealership including:

  • You can haggle at a dealership. We encourage our customers to always do their own research to make sure they’re getting the most reasonable trade-in offers. 
  • At a dealership you can trade-in a car that is not paid off.  If you are upside down on your car loan, you can consolidate what is owed on your current car with the price of your new ride.

Value Your Trade-In: FAQs

 

Q: What does it mean to be “upside down” on a car loan?

A: Being “upside down” on a car loan is the same thing as having negative equity. For example, if you owe $30,000 on a car that is worth $25,000, you have negative equity.

 

Q: Can you trade in a financed car?

A: Yes you can. If you have positive equity on the car (it is worth more than what you currently owe) you can trade it in easily. The dealer will purchase your car, pay off the loan, and put what is left toward the new vehicle price.   If you have negative equity on the car (it is worth less than what you currently owe) the dealer may still buy the car, pay off the loan, and the difference will be rolled into your new car loan — meaning you will still need to pay it off eventually.

 

Q: How soon can you trade in a financed car? 

A: There is no time limit set in stone but it is a best to wait until you have positive equity.

 

Q: Can I trade in my car for a less expensive car? 

A: If you still owe money on your car you can trade it in for a less expensive one. If you owe $15,000 and the car is worth $20,000, the dealer can purchase your car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you do not owe money and trade   it in for a less expensive car, you will receive the difference.

 

Make Porsche Shreveport Your Automotive Partner Today! 

If you have questions about how a trade-in works or how to get the best possible offer do not hesitate to give us a call at (318) 213-4911 or contact us online. Be sure to browse our current car specials to start shopping for your next great offer in the Shreveport-Bossier area.