If a car is being financed by another company can you trade it in?

Question

It is still being financed through another company. Will they pay off your trade? Or include this with your new loan?

What is it like to trade in a car in general to get new car? What kind of car can one expect to get for this trade in?

It is a 2001 Chevy Cavalier have , that has a dented door that doesn't close properly, badly bubbling and peeling clear coat, also has a dent in the side, and the inside is almost pretty clean except for a few stains of white out on the seats and a little lint on the seats as well, the dash board also has a crack, and one of the vents inside fell out, also the glove compartment broke and will not close.

It has about 192,00 miles on it.

Answer 1

I hope you don't owe much money on this car because you aren't going to get much for a trade-in.  You'd probably do better to just sell the car, paying off the loan in the process.

Dealers are very motivated now so it never hurts to ask.

Answer 2

you can trade it in but what they pay to pay it off will be added to your loan. Also you may have to put down a D/P depending on how much you owe.