Back

How to Trade In Your Vehicle When You're Still Making Payments

Aug. 24 2025 Credit By Auto Nation Canada

Share

Still paying off your current vehicle but thinking about trading it in? Good news—you can absolutely trade in a financed vehicle in Alberta. It’s more common than you might think.

At Auto Nation Canada, we help customers every day who are upgrading to something newer, more reliable, or better suited to their needs—even if they haven’t finished paying off their current loan.

Here’s what you need to know if you’re still making payments and want to trade in.

With years of proven experience helping buyers across Acheson, West Edmonton, and Treaty 6 communities, we make trading in a financed vehicle easy, honest, and stress-free.

🔁 Step 1: Find Out Your Payout Amount

Call your current lender or check your loan portal to find the exact amount remaining on your loan—this is called the payout.

We’ll contact your lender directly as part of the process, but knowing this upfront helps us estimate your equity.

💰 Step 2: Value Your Trade

We’ll appraise your current vehicle’s market value based on:

  • Year, mileage, and condition

  • Service history

  • Market demand in Alberta

Start here: 👉 Get your trade-in value

🔄 Step 3: Calculate Your Equity

Once we know the value and your payout, we subtract:

  • If the vehicle is worth more than what you owe: You have positive equity that can go toward your next purchase.

  • If you owe more than it’s worth: You can still trade it in—we’ll help roll the small difference into your new loan.

We explain all this upfront and only proceed if the deal works for you.

🚙 Step 4: Choose Your Upgrade

We’ll help you:

📝 Step 5: Finalize the New Loan

Once we’ve chosen your next vehicle, we:

  • Pay out your current loan

  • Apply any equity toward the down payment

  • Finalize your new financing with transparent terms

You’ll drive away in your new vehicle with just one loan to manage and no surprises.

✅ Ready to Explore a Trade-In?

You don’t have to wait until your loan is paid off.
 👉 Value your trade
 👉 Apply for financing

At Auto Nation Canada, we make upgrades possible—even if your current vehicle still has a balance. Let’s build a plan that works for you.