Can you trade in a "smart buy" vehicle before the end of the contract?

Question

Can you trade in a "smart buy" vehicle before the end of the contract?

Answer 1

The payments on a GMAC "smart-buy" loan are usually high enough so that you are not upside down. However it might be possible that you are upside down, which means you have no trade-in equity. Find out the trade-in value of your car (www.kbb.com or www.nadaguides.com) and then contact GMAC to find out what you still owe.

If you are upside down, you should realize that your negative equity will be rolled into the cost of any new car you get, making it more expensive. Trading with negative equity is not usually a good idea. It is a viscous cycle that is hard to get out of when it's done over and over.

Good luck.

Answer 2

I think they would be interested in a new transaction because more money to be made