PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can you trade a car in with a title loan?
I’ve been on the fence about purchasing a new vehicle, but one of my local dealerships has a huge sale going on, and I found a car I want to buy. I plan to trade in my current car, but it has a title loan. Can you trade in a car that has a title loan on it?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You must be excited to have found a new car you’re interested in purchasing! The good news is that more often than not, you can trade a car in with a title loan. However, the lienholder (title company) must be paid off before the title is legally transferred.
When you
trade in a car with a loan
, you are essentially selling it to the dealer, and they pay off the remaining balance. However, it’s not always the best option, especially if you have negative equity.If you have negative equity in your car, also known as being
upside-down loan
, you should consider all options. In this situation, you can:- Pay the difference in a lump sum and keep the monthly payments lower.
- Wait to trade in the vehicle until the title loan is paid off.
If you’re looking for
car insurance
for your new vehicle, or you want to save money and make repaying the title loan more manageable, you should download Jerry
.Jerry
is an insurance comparison app that shops for low prices with over 50 different insurance companies for free. You will get quotes in seconds, can make changes at any time, and if you ever have any questions, agents are just a text away!MORE: What to do after buying a new car
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
.jpg&w=64&q=75){kind=avatar}
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
