Value Your Trade

How Much Is My Car Worth?

How much is your car worth? Get an accurate answer at Mercedes-Benz of South Mississippi. Our trade-in calculator is fast and efficient and provides a precise valuation tailored to your vehicle’s unique condition and market demand. Whether you live in Biloxi or the surrounding area, we invite you to stop by our dealership in D'Iberville for a quick estimate. Simply evaluate your trade-in online and plan your trip to our dealership to get started with an official inspection and appraisal. Our finance team will guide you through the process of selling or trading your car and help you get the most out of your vehicle. So why wait? Visit us near Gulfport today and discover the actual value of your car!

Steps to Trade In Your Vehicle

If you’re thinking of trading in your vehicle, the good news is that it can be a relatively straightforward process. Here are a few steps you can take to get started:

• Determine Trade-In Worth: Use our online tool to determine how much your car is worth. This step gives you an idea of your car’s market value.
• Browse Our Selection: After knowing your trade-in value, explore our diverse range of new, used, or certified pre-owned vehicles.
• Financing Solutions: Should your trade-in not fully cover the new purchase, our finance department is ready to assist with the rest. The important thing to note is that, by trading in your current vehicle for credit towards your next, you lower the cost of your next car, meaning lower monthly payments, less total interest to pay, and easier down payment requirements!
• Managing Existing Loans: Trading in a car with an ongoing loan? No worries. Our finance experts can guide you through the process. In this case, we usually pay off the remaining balance and use whatever value is left as credit towards your next vehicle.
• Finalizing the Trade: Ready to trade in your vehicle? Bring your vehicle to Mercedes-Benz of South Mississippi with documents like the title, loan payoff information, registration, and key. We’ll inspect the car to officially determine how much your vehicle is worth.

Advantages of Trading In Your Car

When considering buying a new car, knowing how much your current vehicle is worth is important. Not only does this help you understand the value of your asset, but it can also help you save money in the long run. By trading in your vehicle, you can reduce the upfront costs of your next vehicle, which can make a big difference in your financial situation. This reduction means a smaller down payment and less to finance, which can lighten your financial load in the long term by lowering your monthly payments. So, asking, “How much is my car worth?” is not just a simple question; it’s also an intelligent step towards saving money.

Value Your Trade-In: FAQs

Q: Can you trade in a financed car?

A: Yes, you can. If you have positive equity on the car (as in, it’s worth more than what you currently owe), you can trade it in easily. The dealer will purchase the car and pay off the loan, then they’ll put what’s left toward the new vehicle price, giving you a major advantage. If you have negative equity on the car (as in, it’s worth less than what you currently owe), the dealer may still buy the car and pay off the loan, but the difference will be rolled into your new car loan — meaning you’ll still need to pay it off eventually.

Q: How soon can you trade in a financed car?

A: No time limit’s set in stone, but it’s good to wait until you have positive equity.

Q: What does it mean to be “upside down” on a car loan?

A: Being “upside down” on a car loan is the same thing as having negative equity. If, for example, you owe $30,000 on a car that’s worth $25,000, you have negative equity.

Q: Can I trade in my car for a cheaper car?

A: If you still owe money on the car, you can trade it in for a cheaper one. If, for example, you owe $15,000 and the car is worth $20,000, the dealer can purchase the car as a trade-in, pay off the loan, and put the $5,000 toward your new auto loan as equity. If you don’t owe money on the car and own it outright, nothing is stopping you from trading it in for a cheaper car; you can do what you’d like with it.

Q: Can you trade in a leased car?

A: While you can trade in a leased car, the process is a bit different from what you might expect. When you finance a vehicle, eventually you own it outright. That means, when you trade it in, you’re essentially selling the car to the dealership. With a lease, you don’t own the car, so when you trade it in, you won’t receive a cash payment. When you trade in a leased car, it either means that you’re returning the lease early or your term has ended. If you’re returning your lease early, you may have some fees to pay. At the end of your lease, you’ll have the opportunity to buy the vehicle you’ve been driving, sign a new lease, or finance an entirely new car!

Q: Can you trade in a leased car to another dealer?

A: Yes! You can trade your leased vehicle to any authorized Mercedes-Benz dealership. That makes it easy to walk away from your lease after the term has ended. Whether you’ve moved across the state or the country, lease returns with Mercedes-Benz are simple. If you’re still in D'Iberville when your lease reaches its end, you can visit our pristine showroom to enjoy another great experience!

Q: Can you trade in a car without a title?

A: No. Here in Mississippi, it is unlawful to sell a car without a title. If you were hoping to trade in a car without the title, don’t be discouraged! While you will need to replace your title before making a sale, the state’s Department of Revenue (DOR) makes it easy through the Fast Track Title Program. Through this program, the DOR is required to process your request for a new or duplicate title within 72 hours of receipt of the application. You’ll simply need to send the application and payment to the address in Jackson, or you can choose to hand-deliver your application in Clinton. Either way, your request will be processed in 72 hours or less. This program ensures that you can quickly make an automotive sale when you’re ready to move on from your current vehicle!

Trade-In Your Vehicle at Mercedes-Benz of South Mississippi!

Still wondering about how much your car is worth, or have other trade-in questions? Reach out to Mercedes-Benz of South Mississippi near Hattiesburg. Our dedicated team in D'Iberville is eager to guide you through each step, from vehicle appraisal to exploring financing options. We also offer convenient online financing applications to streamline your purchase process. Trade in your car easily and step into your new vehicle with confidence and the best financial plan in place.