Negative Equity

Negative Equity? We Can Help.

WE WANT YOUR TRADE - AND WE'LL PAY ABOVE BOOK VALUE TO PROVE IT!
If your current vehicle's value is lower than your remaining loan balance, you may have negative equity. While this can make the trade-in process more complicated, our experienced team is here to help you review your options and determine the best path forward.

Understanding Negative Equity

Negative equity occurs when the amount you still owe on your vehicle loan is greater than the vehicle's current market value. This is also commonly referred to as being "upside down" on your auto loan.

For example, if your vehicle has a current value of $20,000 but your remaining loan balance is $25,000, you have $5,000 in negative equity. While this may impact your trade-in options, it doesn't mean there aren't solutions available.

What Causes Negative Equity?

Several common situations can lead to negative equity, including:

• Longer financing terms
• A small or no down payment
• Normal vehicle depreciation
• Adding a previous loan balance to a new vehicle purchase

If you're unsure of your vehicle's current market value or loan payoff amount, our team can help you review the details and better understand your options.

Bring Us Your Trade

At our Kia dealership, we're always interested in quality pre-owned vehicles and may be able to offer more for your trade than you expect.

Our team will evaluate your vehicle, review your loan information, and explain the options available based on your situation. Since every customer has unique needs, we'll take the time to provide clear and helpful guidance throughout the process.

Explore Your Options

Negative equity doesn't always mean you have to wait to upgrade your vehicle. Our finance team can help by:

• Reviewing your current loan payoff amount
• Evaluating your vehicle's trade-in value
• Exploring available incentives and offers
• Discussing potential financing options

Let's Get Started

If you have questions about negative equity or want to learn more about your vehicle's value, contact our team today for a complimentary evaluation.