UPDATE: We are excited to announce that our sales showroom is open by appointment only!

Can You Trade In a Financed Car? | Mercedes-Benz of Greenwich
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261 West Putnam Ave, Greenwich, CT, 06830

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Phone Numbers:Sales Hours:
  • Mon - Fri9:00 AM - 7:00 PM
  • Sat9:00 AM - 3:00 PM
    (4th of July Hours)
  • SunClosed
Service Hours:
  • Mon - Fri7:30 AM - 6:00 PM
    (Night drop box available on Saturday's. )
  • Sat8:00 AM - 4:00 PM
    (Closed on 4th of July)
  • SunClosed
Parts Hours:
  • Mon - Fri7:30 AM - 6:00 PM
  • Sat8:00 AM - 4:00 PM
    (Closed on 4th of July)
  • SunClosed

Can You Trade In a Financed Car?

Finance and Signing

Can you trade in a financed car? Yes! Trading in a financed vehicle is both possible and beneficial when you’d like to move forward with a new ride, but you should keep in mind that the balance on your loan won’t automatically disappear.  Oftentimes, you can use the value of your trade to pay off the rest of your loan. In other cases, you’ll need to roll over the remaining loan balance into a new financing package. No matter where you’re at in the process of trading in a financed car, Mercedes-Benz of Greenwich can help you figure out what’s next.

How Does Trading In a Financed Car Work?

Getting ready to trade in a financed car? Here’s how to ensure a smoother process:

  • Find out how much you still owe on your loan by taking a look at your monthly statement.
  • Value your trade online to get an estimate your vehicle’s current worth, and do some research to find out what others have received in similar situations. After you get your estimated trade-in value, one of our sales experts will meet with you, inspect the vehicle, and make you an offer. Want to move forward with confidence? Get the facts on how to trade in a car.
  • Your next steps and options will be determined by the amount that you’ve been offered.
    • Is your trade-in value greater than the remaining balance on your auto loan? You’re free to put the money towards a new or used Mercedes-Benz.
    • Is your trade-in value less than the amount which you currently owe? This situation can occur when your vehicle depreciates quickly, or when your monthly payments haven’t been significant enough to make a dent in your loan.

Now that you’ve seen how trading in a financed car works, you’re ready to move forward. If you’re worried that your vehicle isn’t worth as much as you currently owe, keep reading to find out what we can do to help! Will trading in a financed car help you save money? It can, but only if you’re able to secure a lower interest rate.

Can You Trade In a Financed Car if You’re “Underwater”?

Can you trade in a financed car if you owe more money than your vehicle is worth? Yes, but you’ll need to roll over your remaining loan balance onto a new package. Here’s what trading in a financed car means if you’re “underwater” on your car loan:

  • When you roll over a car loan, your dealership will pay off whatever remains on your old loan, after accounting for the trade-in value of your vehicle.
  • This debt doesn’t disappear. The dealership will add that balance to the total amount which you need to borrow to purchase your new vehicle. So, your new loan will be valued at the price of the new car you’re purchasing, plus whatever your loan balance would be after the trade in.

Need an example? Let’s say that you’re trading in a financed car, and you’re offered $6,000. At the same time, let’s say that you still owe $8,000 on your old loan. The $2,000 difference can be added on to your new financing agreement, or tacked on to your monthly payments if you trade in a financed car for a lease. If you then take out a loan for $15,000 to purchase a new car, the total amount owed would increase to $17,000.

Let Mercedes-Benz of Greenwich Help You Move Forward

The Mercedes-Benz of Greenwich works with drivers from all walks of life, and we’d be happy to help you trade in a financed car–even if you’re under water. Start a conversation with the team at our financing

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261 West Putnam Ave • Greenwich, CT 06830

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Today's Hours:

Open Today! Sales: 9am-3pm

Open Today! Service: 8am-4pm

Open Today! Parts: 8am-4pm

Mercedes-Benz of Greenwich

261 West Putnam Ave Greenwich, CT

Phone: 888-249-6454



Phone: 855-216-2362

261 West Putnam Ave Greenwich, CT


Phone: 877-634-4150

261 West Putnam Ave Greenwich, CT


Phone: 866-285-4034

261 West Putnam Ave Greenwich, CT
41.024908 -73.635592
Mercedes-Benz of Greenwich 41.024908, -73.635592.