Trade-in

[nicotineloaded]

sorry for my ignorance po. question lang po. pwede po ba i tarade-in ang auto na binabayaran pa sa bank? TIA

[yebo]

you can't trade-in or sell what you don't own yet.

[lowslowbenz]

Maybe you can, if its with the same bank (assuming that).

BUT

It may get complicated.

[Syuryuken]

Sinubukan ko na dati ayaw ng bank.

[1D4LV]

you need to pay the balance first bro.

[Egan101]

You have to settle the remaining principal of the car loan first, then sell the car. What ever difference between the principal amount and the selling price will be used as DP for the new car.

This is what Ford Alabang told me when I asked about trading in my Fiesta Ecoboost for a Focus Ecoboost. They have a partner buy&sell trader who will be the one to buy the car.