Trade In Car For Lease

When you’re searching for a new set of wheels, you might be anxious to get rid of your current vehicle–even if you still haven’t paid off your loan. But trading in a car with a loan could come at a cost. In the first year of ownership, your brand new car decreases in value by at least 20%, which means your loan could be worth more than your car. 

Ewald Chevrolet helps our customers make wise financial investments, so you won’t lose money when you trade in a car for a lease. We are a locally owned Waukesha used car dealer that values each customer whether they want to buy, sell, trade in, or lease a car. Our sales team will ensure that you are well taken care of along the way.

Let’s look at how to trade in your car for a lease and not lose money.

Can You Trade In A Financed Car For A Lease?

Yes, you can trade in a financed car for a lease at Ewald Chevrolet. But you should know that trading in your used car near Waukesha doesn’t make your old loan disappear. You will receive your car trade in value, and you can put it all towards your loan balance if you like. Learn more about when it is the right time to trade in a car for a lease and how to do it below. 

How Soon Can You Trade In A Financed Car?

You can trade in a financed car at any time–but you might want to wait. All cars depreciate, but new cars have the most depreciation. A new car can lose up to 20% of its value within the first year of ownership. So, you might want to wait until your loan balance is lower than the value of your used car near Waukesha. 

How To Trade In A Car That Is Not Paid Off

Now that you know that you’ve answered the question, “Can I trade in my car for a lease?” it’s time to break down the steps you need to take. 

1. Research the car trade in value. Take advantage of Ewald’s car trade in value calculator to get an accurate estimate. Come to our Waukesha used car dealer today if you want an in-person appraisal!

2. Find your loan balance. If you recently received a monthly statement, it should be there.

3. Trade in your car at Ewald Chevrolet. Suppose you owe less on your car than it’s currently worth. Congrats! You can take home that extra money. Otherwise, you can rollover your loan into your new lease.

4. Lease a car. Pick out the car, truck, or SUV you want to lease from our inventory. You have access to multiple automakers and models to find a car that fits your needs.

Trading in your car for a lease is a big decision. We want to help make the process as hassle-free and straightforward as possible. If you still have questions on how to do it, please get in touch with our experts at Ewald Chevrolet today.

Trade In Your Car For A Lease At Ewald Chevrolet

As you’ve seen, trading in a car for a lease is far from impossible. Even if you still owe money on your car loan, you can trade your car at our Waukesha used car dealer. If you want to maximize your car trade in value and drive home with a new model, don’t wait! Reach out to our experts at Ewald Chevrolet –we are ready to help you today!