I have a car note right now, but i would like to turn in my vehicle for a different car. How would that affect my note?

Asked by Sky Oct 14, 2014 at 08:01 PM about the 2006 Lincoln LS Sport

Question type: Shopping & Pricing

8 Answers

55,910

The place that you owe the note to has your title. You can't sell your car until you pay it off and get the title with a lien release on or with it.

I'm not trying to sell it I'm trying to go to a dealership and turn in the vehicle for another vehicle.

Yeah but if i saw a car at another place could i go there or is it a possibility they could take over my loan or just add it to another one for a new vehicle?

55,910

Probably not but it wouldn't hurt to go ask the dealership and see if they can work with you.

Best Answer Mark helpful
125

I deal with this every week. The second dealership can offer you trade in money for your car that you currently have. This money can go toward the money you owe on your current car. If you get enough to pay it off you borrow for the new and any left over is your down payment. If they don't pay it off what is left over gets added to your new loan amount. Is there something wrong with your current car? You can get stuck in a downward spiral of trading in your car and always being upside down in it never having equity in your car, if you not careful. Just my opinion.

Your Answer:

LS

Looking for a Used LS in your area?

CarGurus has 29 nationwide LS listings and the tools to find you a great deal.

ZIP:

Own this car?

Share your experience with others.

2006 Lincoln LS

Review another car

CarGurus Experts

  • #1
    GuruDHYBZ
    Reputation
    1,920
  • #2
    Ionatan Ion
    Reputation
    1,490
  • #3
    2000P71
    Reputation
    1,460
View All

Know more, shop wisely

Search

Related Models For Sale

Used Lincoln Town Car
23 Great Deals out of 391 listings starting at $1,899
Used Lincoln MKZ
137 Great Deals out of 1,711 listings starting at $1,200
Used Mercedes-Benz S-Class
304 Great Deals out of 6,854 listings starting at $2,499
Used Lexus LS
111 Great Deals out of 1,734 listings starting at $3,300
Used Chevrolet Silverado 1500
4,193 Great Deals out of 131,957 listings starting at $1,000
Used Ford Mustang
877 Great Deals out of 23,035 listings starting at $1,150
Used Honda Accord
1,513 Great Deals out of 29,433 listings starting at $600
Used Toyota Avalon
196 Great Deals out of 2,040 listings starting at $725
Used Chrysler 300
338 Great Deals out of 7,183 listings starting at $2,550
Used Dodge Charger
740 Great Deals out of 29,818 listings starting at $1,900

Used Cars For Sale

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.