CAN I TRADE IN A CAR WITH AN EXISTING LOAN

Asked by DVargas1 May 29, 2018 at 03:39 PM about the 2016 Kia Sorento EX

Question type: Car Selling & Trading In

I HAVE A 2016 KIA SORENTO THAT I WOULD LIKE TO TRADE IN FOR A SMALLER AND CHEAPER CAR. IT IS UNDER MINE AND MY HUSBAND'S NAME AND I WOULD LIKE TO HAVE A CAR UNDER MY NAME. THERE ARE APPROXIMATELY 30 MONTHS LEFT ON THE LOAN. IS THIS SOMETHIN THAT CAN BE DONE?

3 Answers
101,595

KenF answered 5 years ago

That is entirely up to any dealership you want to trade the car in at. If you plan to buy from a private owner, you'll have to sell and pay off the loan on your own. You should know that trading in a car you still owe money on results in a less than favorable trade-in allowance for you.

2 people found this helpful.
Mark helpful

F_O_R answered 5 years ago

You are going to have a bigger payment because you probably owe more than it is worth. The balance could be added to your new loan if you qualify. If you are trying to save money I doubt your plan will work.

2 people found this helpful.
Mark helpful
4,980

Title_Reguru answered 5 years ago

This can be done but is a dealer by dealer basis. You might have more options with an outside lender like yield solutions....good luck

Mark helpful

Your Answer:

Related Questions

  • CAN I TRADE IN A CAR WITH AN EXISTING LOAN 3 Answers

    I HAVE A 2016 KIA SORENTO THAT I WOULD LIKE TO TRADE IN FOR A SMALLER AND CHEAPER CAR. IT IS UNDER MINE AND MY HUSBAND'S NAME AND I WOULD LIKE TO HAVE A CAR UNDER MY NAME. THERE ARE APPROXIMATELY 30 M...

    2016 Kia Sorento EX

    -

    Car Selling & Trading In

  • Can I sell a car that is still owned by the bank? 2 Answers

    So I still owe the bank $8300 on the car. Does Cargurus offer a way that would ensure the buyer that I will use the sale proceeds to pay off the car and give him/her the Title afterward? Or do I hav...

    2016 Kia Sorento LX V6 AWD

    -

    Car Selling & Trading In

  • Where is the site to appraise my car? 1 Answer

    Where is the site to get a trade in value?

    2013 Kia Sorento LX V6

    -

    Car Selling & Trading In

  • Fee to pick up my vehicle for car selling only 1 Answer

    I can not find the truck I am looking for, I would like to know what the cost is if any to pick up my vehicle to sell only, not trade in.

    2019 Kia Sorento LX Plus V6 AWD

    -

    Car Selling & Trading In

  • Can I sell a car with a seized engine? 5 Answers

    2013 Kia Sorento

    -

    Car Selling & Trading In

Sorento

Looking for a Used Sorento in your area?

CarGurus has 1,749 nationwide Sorento listings starting at $3,800.

Postal Code:

Shortcuts

Search Kia Sorento Questions

CarGurus Experts

  • #1
    5240
    Reputation
    2,490
  • #2
    Paul
    Reputation
    1,530
  • #3
    Edel Erum
    Reputation
    1,330
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Kia Sportage
65 Great Deals out of 1,813 listings starting at $5,499
Used Hyundai Santa Fe
66 Great Deals out of 1,639 listings starting at $499
Used Toyota Highlander
41 Great Deals out of 815 listings starting at $3,877
Used Ford Explorer
51 Great Deals out of 1,911 listings starting at $6,990
Used Honda Pilot
33 Great Deals out of 979 listings starting at $3,800
Used Honda CR-V
185 Great Deals out of 4,925 listings starting at $440
Used Toyota RAV4
140 Great Deals out of 2,980 listings starting at $4,999
Used Jeep Grand Cherokee
138 Great Deals out of 3,611 listings starting at $4,295
Used Chevrolet Traverse
25 Great Deals out of 507 listings starting at $5,888
Used Hyundai Tucson
98 Great Deals out of 2,816 listings starting at $3,455
Used Nissan Pathfinder
37 Great Deals out of 1,668 listings starting at $899
Used Nissan Rogue
124 Great Deals out of 4,946 listings starting at $190

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.