Excited Couple Reviewing Trade in Offer with Salesman

Trading in a financed car is a simple process when you work with Advantage Chrysler Dodge Jeep RAM in Mt Dora, regardless of whether you are looking to trade in a financed for a lease, another loan, or simply for cash. So, how does training in a financed car work? Eustis drivers can read on to learn everything that they need to know. Then, once you’re ready to take the next step, use our trade-in calculator and contact us

How Does Trading In a Financed Car Work?

Now that you know that you can trade in a financed car, let’s take a look at the steps of trading in a financed car. If you’d like to trade in a financed car for a lease, you can still follow these steps. First, you’ll want to:

  1. Take a look at your monthly statement and find the figure for the remaining balance on your current auto loan. 
  2. Then, use our trade-in value tool to get an idea of what the average market value is for your car, given its condition, trim, add-ons, and model year. Remember, that this quote is an estimate, and we will need to verify your vehicle’s condition before we make an offer. 
  3. If the remaining balance on your current loan is less than the trade-in offer you receive from the dealership, then you’ll have a profit that you can use to put money down towards your next vehicle. 
  4. If you owe more than you’re offered for your trade-in, then you have “negative equity.” This means that it isn’t financially wise to trade in your vehicle, although, if you’re eager to change up your Tavares commute with a new car, we’re happy to assist. 

What Does “Rolling Over” A Loan Mean?

Now that you know that you can trade in a financed car and how trading in a financed car works, there’s one more thing to know about. If the remaining balance on your loan is more than the trade-in offer from a Leesburg dealership, that dealer may tell you that they’ll pay off your current loan in order to get you to trade in your car for another on their lot. Unfortunately, this is too good to be true. They’ll just bury the remaining balance in your next loan, and you use the higher balance to charge you more interest. At Advantage Chrysler Dodge Jeep RAM, we strive for transparency and professionalism and won’t do this with you. 

Trade in Your Financed Car for a Lease or Loan in Mt Dora 

To take the next step with Advantage Chrysler Dodge Jeep RAM, give our finance department a call at 877-361-7285. We’ll walk you through all of the steps of this process and ensure a smooth, transparent, and professional transaction. We look forward to earning your business.


More from Advantage Chrysler Dodge Jeep RAM

  • How Often to Change Synthetic Oil

      Your engine’s oil is one of the most important components that keep your vehicle running at top capacity. But not many people know when’s the right time or how often to change synthetic oil. The engine’s oil lubricates that various metallic parts moving in and out of each other. It also keeps the engine…

  • 2021 RAM 1500 Colors

    There’s a reason the 2021 RAM 1500 is a popular choice for many Eustis drivers. Whether you’re looking for a dependable work truck or you need something with impressive towing power, the new RAM 1500 has your back. Now, with the impressive selection of RAM 1500 paint colors and a stunning palette of RAM 1500…

  • What is the 2021 Jeep Cherokee Towing Capacity?

    If you’re like many Mt Dora area drivers, you want a vehicle that works as hard as you do and keeps up with your busy schedule, from the job site to weekend adventures. Fortunately, that’s what you get in a new Jeep Cherokee. If you need to tow your boat or trailer, you might be wondering…

Saved Vehicles


You don't have any saved vehicles!

Look for this link on your favorites:


Once you've saved some vehicles, you can view them here at any time.

Contact Us


Call Now

18311 US-441 • Mt Dora, FL 32757

Get Directions

Today's Hours:

Open Today! Sales: 9am-8pm

Open Today! Service: 7:30am-6pm

Advantage Chrysler Dodge Jeep RAM 28.8249318, -81.6551389.