You will need to contact your lender to get a 10- or 20-day payoff amount (we will need the extended payoff period for processing paperwork and submitting payment). Then we will take any amount owing into account when we provide you with your trade-in amount.
As an example, let’s say you have $10,000 still owed on your vehicle. If your vehicle was worth $15,000, then you will receive $5,000 as either a cash amount or an appraisal value to use towards your new vehicle. However, if your vehicle is only worth $9,000 then we would put that $9,000 towards your loan and the additional $1,000 would need to be covered by you before we would take ownership of the vehicle.