A Dealerships That Will Pay Off Your Trade No Matter What You Owe

Are you tired of your old car, but you are yet to clear your car loan? You can sell it off and use the money to pay the loan balance, then use the remaining amount as a down payment for a new car. The major challenge, however, is when you have negative equity or an upside-down loan.

If you are in this situation, don’t stress yourself up, as there are dealerships that will pay off your trade no matter what you owe. All you have to do is find a car dealership that accepts trade-in and has a good and genuine offer.

But how does a car dealership handle such matters?

How Car Dealership Handle Upside-Down Loans?

If your car loan is more than the car’s current value, then you have negative equity, which in the car dealership world is also referred to as an “underwater” or “upside-down” loan. In such situations, the car dealership company can include the difference between the value of the car you want to trade-in and the loan balance to your new car’s cost.

For example, if your 2015 Toyota Premio is worth $7000, and you want to trade it in for the 2020 model, which you’ve negotiated to around $20,000, the price you’ll be expected to pay is $13,000.

But if you still owe the previous owner $9000, the car dealer can take the trade-in car and add $2000 (the loan balance of $9000 minus trade-in value of $7000) to the value of your new vehicle, which in this case is $2000 plus $20,000, meaning you will have to pay $22,000. The dealership company will then clear the loan balance you owed the previous owner.

How To Find A Dealerships That Will Pay Off Your Trade No Matter What You Owe?

Find a dealership that will pay off your trade no matter how much you owe is not easy. There are fraudulent car dealerships that attract customers by offering attractive but fake deals. Some promise to make the customer’s auto debt disappear, while some offer to fully pay-off all previous auto loans balance. 

So, how do you determine a genuine dealership that will pay for your trade regardless of your debt?

1. Check Out Its Customer Review

Before getting into an agreement with any car dealership, it advisable that you first check out their customer reviews. The reviews will help you to determine whether to trust a company or not.

When you are making a huge investment, such as buying a new car, it is wise to pay more attention to what other customers say. Some of the websites where you can find these reviews include; Google, Yelp, and dealerrater.com

2. Better Business Bureau (BBB)

The best way to establish whether a specific dealership is reputable or trustworthy is by searching it on the BBB webpage. On this site, you will find a list of all the accredited car dealerships, including those that have several complaints launched against them. It is best to choose among companies with an “A grade”.

3. Continuity/Longevity

Another thing to consider when selecting a dealership to deal with is their history. How long has the company been on the market? A dubious dealership cannot stay under the radar for long. Their secrets always get out, and once that happens, customers disappear, and the business collapses.

Moreover, if they have been on the market for a long time, the chances are that they get a great deal of repeat business. A customer, who feels shortchanged, won’t return to the same dealership.

4. Inquire From Friends And Family

You can also inquire from your friends and family members who have recently bought vehicles from car dealerships about their experiences, the challenges they went through, and the concerns they had. Ask them whether they can recommend the right dealership that will pay off your trade no matter who you owe.

5. Watch Out For $6000 For Any Trade-in Offers/Promotions.

Some dealerships usually have promotions and offer that target trade-in customers, like the $6000 for any trade-in offer. Some companies call it the “push, pull, and tug” offer, where you are given a trade-in offer of $6000 for your old vehicle regardless of the condition. In exchange, you choose a new car within your budget range, make a top-up on the $6000, and own the car.

Some of the dealership companies who’ve had the ‘$6000 for any trade-in offer’ include Mountain View Nissan of Dalton, Gray Epperson Automotive, AutoYas, and Auto Outlet of PA. Before you get into these fantastic deals, it is prudent that you do a thorough background check and read through their reviews.

A Review Of Dealerships That Will Pay Off Your Trade No Matter What You Owe

Some dealerships offer to pay off your trade no matter what you owe, and they include:

1. Imperial Cars

Imperial Cars are one of the car dealerships that offer to pay off your trade no matter what you owe. It servers six towns, and they are Providence RI, Worcester MA, Framingham, Franklin, Milford, MA, and Mendon, MA. It has three dealerships and six brands, Imperial Chrysler Dodge Jeep Ram, Imperial Chevrolet, and Imperial Ford.

They are currently considering car buyers with bad credits and accept trade-in even if you’ve got negative equity. They have a three-step process where you choose the car you want, bring your trade, and they’ll pay the trade-in fee.

2. Premier GMC

Premier GMC is a local General Motors Company (GMC) that is situated in Rittman, Ohio. Its coverage area includes Medina, Wooster, and Wadsworth. The company offers a wide range of used and new cars for sale. Furthermore, the dealership offers a wide range of vehicles to choose from, accepts trade-ins, and has car experts who will help you service your car.

In regards to auto financing, Premier GMC works with you to create a suitable payment plan. They accept trade-ins for any vehicle, motorcycle, motor home, camper, boat, and even snowmobile. They are willing to pay off your trade regardless of what you owe.

3. Suburban Toyota of Troy

Suburban is a car dealership company found in Troy, Michigan, offering a range of automotive solutions to both industry and retail customers across Canada and the United States. The company has a collection of different vehicle brands – spread over fifty-four dealership locations. They also have AAA-approved auto repairs, 8 Suburban collision centers, and Suburban auto parts.

The company works with four Ford-approved installers and accessory distributors and three General Motors-approved installers and accessory distributors. Its Competitive Vehicle Services department makes sure that the businesses that test and design vehicle safety are within reach of the latest car models.

It is one of the many companies that buy old cars and accept trade-in vehicles even if your debt supersedes the vehicle’s value. Additionally, they buy financed vehicles that are yet to be fully paid. Its offices are located at 2100 W Maple Rd Troy, MI 48085.

4. Carlen Chevrolet

This car dealership company is based in Cookeville, Tennessee, and was established in 1926. General Motors have ranked it as the top dealership with the best customer service. They have a fleet of vehicles for sale and leasing and offer a flexible payment option.

They have a wide range of cars of different brands, all available at an affordable price. Also, they accept trade-in deals for vehicles that are still in reasonably good condition regardless of your debt. Their offices are located at 330 W Spring St, Cookeville, TN 38501.

Auto Outlet of PA

Auto Outlet of PA is another car dealership that offers deals on negative equity. It is based in Bensalem, Pennsylvania, and they have a full car inventory comprising of different brands and models. They buy a used car and offer trade-in deals.

The company has a customer rating of 3.5 on yelp.com and 1.4 on car.com from 11 reviews. Their offices are located at 1515 Bristol Pike, Bensalem, PA 19020. It has been commended for having good customer care in both service and sales.

Learn More: How To Trade In A Car With Negative Equity?

Things To Consider Before Visiting A Dealership That Will Pay Of Your Trade

When you visit a car dealership yards, your chances of leaving the yard with a car are high, as most car dealers will pressure you to buy one. Therefore, you should visit a dealership when you are ready to buy and have enough details about the type and price of the car you want.

If you plan to do a trade-in, you must know the value of the vehicle you intend to trade-in. This will ensure that you do not overpay or buy a car that is not of your choice.

Here are some of the things to consider before choosing a car dealership.

1. Consider Your Financing

The first thing that you should think about before choosing and visiting a car dealership is your budget. How much are you ready to spend? If you are trading in, how much money do you have to pay for the remaining balance?

If, on the other hand, you are considering making a down payment, how much are you ready to pay upfront, and how much in installments? You can conduct a quick research on auto loans to help you grasp things and to have a rough idea of what you are eligible for.

2. Compare Prices

You can make use of the internet to compare prices between different dealerships before scheduling your visit. You can visit Kelley Blue Book (KBB) website for vehicle valuation and price comparison. Moreover, you can use its car value tool to determine the Manufacturers Suggested Retail Price (MSRP) and the dealership price range. Another effective tool you can use is TrueCar.

You can inquire, search, or request prices based on the car’s model, make, or year of manufacture. You may receive some texts, emails, and phone calls from different car dealers after some time or even immediately, which is a good thing since knowing the prices of different car dealership companies will help you make an informed decision.

3. Check Out Your Credit Score

Being aware of your credit score and report, as well as the interest rates, will help you negotiate a better deal, saving you tons of money. It also helps you to assess your bargaining power and help you in decision-making.

4. Assess Your Car’s Trade-in Price

You need to have a rough estimate of the car value you intend to trade-in, as stated earlier. Also, you don’t have to wait for the car dealer to inform you how much it’s worth. You can check the value from KBB to know how much you are going to get for it in advance.

Alternatively, you can search KBB using the instant cash feature to get the guaranteed price and avoid lengthy negotiation at the dealership.

5. Research On The Type of Car You’d Want To Have

You also need to research the type of car you want before you visit the car dealership. For a better result, you can use Autotrader and US News Best Cars tools to make up your mind on the type of car you want.

You can use any keyword/phrase to search, such as cars under $20000, cars with the best fuel economy, or if you are a family person, you can search ‘best cars for the family.’ Additionally, you can use the car model, style, type, price, body to choose.


It is important to note that not all dealership that offers to pay off your trade, no matter what you owe, are genuine. And therefore, you must perform due diligence on any dealership before you get into business with them. Remember that the devil is in the details, so take time to read through the fine prints before signing any document.

Finally, if you have purchased a car on trade-in, do not forget to go back and check whether the loan from the previous owner is fully paid off. Ideally, the lender should send you a document to show that your loan has been cleared.

CarsPlan Admin

Cars Plan is automotive information providing a blog. Here you got the best information about the automotive lease, warranty, accident law, insurance, donation, finance, reviews.

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