Can you sell your car back to the dealer you're financing it from?

"Even though I owe money on it, can I still sell this car back to the dealer? I want to get a new car, but I have a car I'm currently paying on. I like the dealer I bought the car with and who I'm currently financing from."

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Eric Schad
Answered on Jul 28, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“You can definitely sell them this car.
Known as a trade-in, the dealer would give you a trade-in value for the car and deduct that amount from your current loan balance.
If you still owe money on the car after that, they’ll roll the leftover amount into the loan for your new car, which is an industry-standard practice.”
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