Will audi buy my car back

Been wondering if you can trade in a financed car? Then you've come to the right place! The simple answer from our Audi Stratham finance center experts: yes. With that said, your loan on your old vehicle doesn't go away when you've traded it in-you still have to pay off that balance. Below, we'll explore the finer details of trading in a financed car for another financed vehicle, and also how to trade in a financed car for a lease. We'll have you cruising down the Portsmouth roads in a new Audi in no time!

How Does Trading In a Financed Car Work?

As you might imagine, there are several factors that will affect your new vehicle purchase if you want to trade in your car. Keep the following in mind as you start this process:

1. What is the amount you owe on your current vehicle? It is typically listed on your monthly statement.

2. Use our Value Your Trade tool or one from a service like Kelley Blue Book to get an estimate on the value of your current vehicle. This is simply an estimate, and it's only once the vehicle has been physically inspected that the dealership will establish what the car is worth. 

3. If the remaining amount of your auto loan is less than the trade in offer from the dealership, then you have positive equity on your old vehicle. This means you'll have money leftover that will go towards purchasing a new car from the dealer. 

1. For example, if you owe $7,000 on your old car in Manchester, and the dealer offers you $8,000 to buy the car, you have a positive equity of $1,000. You can pay off your current loan and still have $1,000 left to contribute towards your next car. 

4. If the remaining balance of your auto loan is more than the trade in offer-negative equity-then you'll still owe money on your car. You can pay off the remainder in full before buying your next car, or you may have the option to roll over the balance into your next car loan with the dealer.

What Does "Rolling Over" A Loan Mean?

When a dealership allows you to roll over your loan so you can purchase a new Audi A3 Sedan or Audi Q5 SUV, they are agreeing to pay off your old loan no matter how much you owe. However, you're not off the hook for that amount. The price gets added to your new loan term on the next car you buy, meaning you pay the dealership back for the old loan at the same time that you pay off the loan on your new vehicle. 

Rolling Over a Loan to Lease an Audi

Similarly, if you're looking to lease a new vehicle, a dealership may agree to roll over the amount you owe on an "upside down" vehicle loan. Leasing a car this way may not be as practical as financing a new car. Many factors, from how much you owe to your credit score, will ultimately affect the decision. If you're not certain of the nitty-gritting of leasing, check out our buying vs. leasing guide.

Rely on Audi Stratham for Your Next Vehicle

Are you ready to get behind the wheel of a new 2019 Audi A5 Sportback? Then stop by Audi Stratam for a test drive! We're as excited to get you into a new ride for your Nashua commute as you are. Before stopping by, take a peek at our current Audi lease deals, and feel free to get the financing process started with our online financing application.

Anyone who has ever sold a car or truck on Craigslist knows that dealing with private party sales can be a real hassle. The potential buyer you have spoken with on the phone or exchanged emails with may not materialize. Or your interested party may show up adamant on sticking to some low-ball offer you would never consider. Then there is the off chance that you could inadvertently end up inviting some crazy person to your home.

That is why many people opt to sell their vehicles to dealerships – to make the selling experience as quick and as painless as possible. Many people assume that you need to purchase a vehicle from a dealer to sell one there, but that’s not necessarily the case. Dealerships come in all different shapes and sizes – from manufacturer-backed new and newer-used car establishments to more eclectic local used car lots that cater mostly to budget-oriented shoppers looking at older cars.

Which is right for you? It really depends upon what you are trying to sell – whether you have an older car with some problems, a more recent model you’d like to trade up for something brand new, or a classic you inherited from your grandmother’s estate but don’t want to keep. Every situation is different, but where there’s a will, there’s a way.

9 Tips For Selling to a Dealership

1. Be Realistic

You may think your car or truck is a real peach, and maybe it is. But step outside of yourself and evaluate its condition as a potential buyer would see it. Is everything working the way it should? If not, you might consider getting that busted window switch and squeaking belt fixed before bringing your car before the ever-critical, seen-it-all eye of a dealer. Having a mechanical inspection done is always a good idea, so the condition you’ve presented to a potential buyer has some bona fides with which to back it up. In any event, the price you can expect will match the vehicle’s condition and desirability.

2. Know What Your Vehicle is Worth

Use Kelley Blue Book’s valuation tools to determine the value of your vehicle – both on the open market and as a trade-in. You can – and should – bargain with the dealer to get the best price possible. Knowing before you go will give you a little edge in the negotiations.

3. Try KBB’s Instant Cash Offer

By entering some basic information about your vehicle – VIN, mileage and an accurate description, among other parameters – you can get a cash offer certificate from Kelley Blue Book that can be redeemed at participating dealers within three business days. If the vehicle’s condition matches your description, the dealer will pay you what was offered. If your description was a little overoptimistic, the dealer will adjust the price down to meet a more realistic appraisal. You are, however, free to take the deal or walk away.

4. Get Your Paperwork Together

Make sure you have a title that’s ready to be signed over to a new owner. If you are still making payments on the vehicle and the bank or another dealership still holds the title, you can still make a deal with a dealership. But you may have to pay the dealership all or part of what you owe before you can get any cash from the deal. These types of sales also take longer to process that straight title-for-cash sales, which can be cleared in as little as an afternoon. Bring your loan information with you.

5. Find a Dealer That Is a Good Fit

Try to figure out which dealerships would want to buy your vehicle. An older car with a few mechanical problems isn’t going to be a big hit with the pre-owned staff at an Audi dealership, and will be more appropriate for a dealership that specializes in older cars.

If you get your car serviced at a dealership, that can be a good starting point (although that dealer may or may not want your car). Also, you can observe what people are driving in given geographical areas, providing you with clues as to where there’s demand for your car. Your 2012 BMW 5 Series may be hot stuff in the city, but maybe it won’t fare as well in a place where most people drive pickup trucks. Dealerships, unlike private party buyers, want vehicles they can sell.

6. Look at Dealer Inventory

When you’re researching dealers to approach, find out what they have on the lot. You can usually do this online. A dealership that’s flooded with the type of car or truck you’re trying to sell may not offer you as good a price as one with more demand for it.

7. Get Several Quotes

Just like you should do when you are looking for a plumber to fix a leaking toilet, you should get a few different quotes so that you have some bargaining power. Most dealers will hold their price for at least a couple of days. Try visiting dealers in different areas to take advantage of various market preferences, and don’t be afraid to use one dealer’s price to try and get more from another.

8. Don’t Take Too Long

Market conditions can change overnight, so if you take too long getting quotes, the offer you got a few days ago may no longer be valid. Besides, part of the reason you’re selling to a dealer is to streamline the selling process and unload your car quickly.

9. Are you selling a specialty or classic?

The mint 1970 Chevrolet Monte Carlo your father willed to you may not be something a BMW dealership would be interested in, but a Chevrolet dealership might like to have it on display in its showroom. It all depends upon the car you’re selling, and what the dealership is amenable to. If you have a rare or exotic car, working with a dealership that specializes in that type of car may be the best way to go about selling it. Whatever the case, don’t be afraid to ask – the worst they can do is say no.

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