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3400 Route 42, Turnersville, NJ, 08012

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Dealership Info

Phone Numbers:Sales Hours:
  • Mon - Fri9:00 AM - 7:00 PM
  • Sat9:00 AM - 5:00 PM
  • SunClosed
Service Hours:
  • Mon - Sat7:30 AM - 5:00 PM
  • SunClosed
Parts Hours:
  • Mon - Sat7:30 AM - 5:00 PM
  • SunClosed

Can You Trade In a Financed Car?

Excited Couple Reviewing Trade in Offer with Salesman


Yes, it is possible to trade-in a financed car. However, doing so won’t necessarily absolve you of your responsibility to repay the loan. Trading in a financed car can be a great option when your vehicle is currently worth more than you owe on the loan. Can you trade-in a financed car that’s worth less than you owe on the loan? Here as well, the answer is yes, but you’ll need to know what to expect. We’ve got you covered.

How Does Trading In a Financed Car Work?

If you’re interested in trading in a financed car near Philadelphia or Sewell, rely on BMW of Turnersville! Here’s a closer look at the whole process:

  1. Find out how much you still owe on your loan. You can usually find this balance on your monthly statement, or wherever you make your payments.
  2. Find out how much your vehicle is worth by taking advantage of our trade-in valuation tool. You can also get alternative estimates from sources like Kelley Blue Book. 
  3. If you like your offer, bring it into a dealership like our own for an in-person inspection and appraisal. We can get you a real offer in less than an hour.
  4. If your trade-in offer is higher than your loan balance, you can choose to take the remainder in cash or apply it to one of our new or pre-owned vehicles.
  5. How does trading in a financed car work if you owe more money than your vehicle is worth? The process can proceed as normal, but you’ll still be responsible for the remaining balance. Ask the dealership if they intend to roll over the loan, or plan to pay off the rest of your loan in one lump sum.

What Does “Rolling Over” A Loan Mean?

If the dealership offers to “roll over” your loan, they intend to add your remaining loan balance onto a new loan for a new vehicle. This is a very common option for Williamstown-area drivers who are trading in a financed car, but it’s important to proceed with caution. Adding a couple hundred dollars to your new loan may not be an issue, but adding thousands could result in an unsustainable monthly payment. If possible, pay off your remaining loan balance in one final payment.

Rely on BMW of Turnersville for Your Next Vehicle

Are you ready to start a new adventure? We’d love to buy your old car, even if you’re still paying off your loan! Whether you’re interested in buying or you’d prefer to trade-in your financed car for a lease, we’re here to help you take the next steps with confidence. Reach out to our financing team or come visit us in Turnersville today.

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BMW of Turnersville 39.731392, -75.034639.