How to Trade in Your Car Without Paying Anything

There are many different reasons to trade in your current car for a replacement car. The big question: Is there an outstanding loan on your current car? You can work with a reputable dealership and your lender to trade in your car without paying anything.

Instructions

1

Call your bank or auto loan company. Ask them if you're allowed to do an auto-payoff of your loan through a car dealership. Ensure that there are no early pay-off penalties. If they say it's acceptable for the dealer to pay off, proceed to the next step.

2

Write a list of features, accessories and items you'd like in a replacement car. For example: air conditioning, power steering, anti-lock brakes and so forth. This will let you know what type of car you'll be seeking.

3

Visit several auto dealerships in your area with your wish list. Make sure the dealership will do a loan payoff as part of your trade-in for the replacement car you select.

4

Obtain financing with the dealership after you select the car you want. Get in writing from the dealership that they will do the loan payoff in a timely manner.