---
id: faq-0018
title: "How does a trade-in affect my financing?"
category: faq
subtopic: financing
page_type: faq
source_url: "https://www.boballenmotormall.com"
tags: ["trade-in", "equity", "down-payment"]
questions:
  - "How much is my trade-in worth?"
  - "How does trading in lower my payment?"
  - "Do you accept trade-ins with loans still owed?"
related: [down-payment, appraisal, financing-options]
dealer: Bob Allen Motor Mall
---

Trading in is one of the easiest ways to lower your monthly payment. Bob Allen appraises your vehicle and applies its value directly to your new car's price-reducing what you finance.

If you still owe money on your trade-in, no problem. Bob Allen pays off your old loan, and if there's leftover equity, it goes toward your new purchase. If you're underwater (owe more than it's worth), the team can work that into your new loan.

The appraisal is free and takes about 15 minutes. To get started, bring your keys and car to **711 Maple Ave, Danville, KY 40422**, or call **(877) 331-4442** to schedule. You'll leave with a real number and see exactly how much your trade-in saves you on your new vehicle.