At Paul Miller Motor Company, we believe in making car shopping and car buying as easy as possible. One way we make that goal achievable for our Lexington customers is by offering a hassle-free way to sell their used cars. Not everyone has the time or desire to become a private party seller — and that’s where Paul Miller Motor Company comes in. We will buy your car, so you don’t have to worry about posting ads or screening buyers. Then, we’ll help you put your car’s value toward the new or pre-owned vehicle you truly want.
If you’re wondering, “What is my used car worth,” the answer is just a few clicks away! Using our handy value your trade-in calculator, you can get an estimated car trade-in value from the comfort of your home or office. Simply input some information about your car into the trade-in value calculator, as well as your contact information, and you’ll have an estimate right away. Keep in mind, there are a few factors that affect trade-in value, including:
After you’ve received your trade-in estimate, it’s time for an appraisal of your vehicle! Any of our dealership locations can take care of this step for you. We’ll examine the condition of your car and make sure it’s a good fit for our used car inventory. When you visit for your car’s appraisal, be sure to bring your trade-in estimate!
Once we’ve examined your car, you can negotiate or accept our offer and finalize the sale. We pride ourselves on offering the fairest possible offer on trade-in vehicles, aiming to make the trade-in process transparent and simple. In fact, there are a couple of major advantages to selling your car to a dealership, including:
Q: Can you trade in a financed car?
A: Yes, you can. If you have positive equity on the car (as in it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, then they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.
Q: How soon can you trade in a financed car?
A: There’s no time limit that’s set in stone, but it’s a good idea to wait until you have positive equity.
Q: What does it mean to be “upside down” on a car loan?
A: Being “upside down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.
Q: Can I trade in my car for a cheaper car?
A: If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, there’s nothing stopping you from trading it in for a cheaper car; you can do what you’d like with it.
If you have questions about how to trade in a car that is paid off, or how to get the best possible offer, don’t hesitate to contact us online or give us a call at (859) 963-2678. While you’re here, be sure to browse our current new and pre-owned car specials to start shopping for your next great offer in Lexington!
If you are asking yourself, “how much is my car worth?” we have you covered.
Through our online trade-in valuation form, we’ll provide you an instant sale price on your car based on real-time market data.
You don’t have to buy a car in order for us to be interested in your trade in. We are always looking to purchase used cars, used trucks, and used SUVs for our inventory. If your vehicle is in excellent condition, good condition, or has seen better days, we’ll still be interested in making you a cash offer right here at any of our dealerships. To see what your vehicle is worth, enter your make and model, your vehicle’s history and condition, and your contact information, and there’s your initial trade-in value! But it doesn’t stop there, our team might be able to offer you more in person!For more information on the trade-in process, feel free to contact us at Paul Miller Motor Company.