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Trade-in equity calculator.
Trade equity is the trade-in offer minus your loan payoff. If the offer is higher, the difference lowers your next loan. If you owe more than the offer, that negative equity is usually added to the new loan, and you pay interest on it. Enter your numbers below.
- Added to your new loan
- $3,000.00
- Adds to monthly payment
- $51.00
- Extra interest on that amount
- $672.22
- Total you repay for the old car
- $3,672.22
Estimates for planning and comparison only, not financial, legal or tax advice. Rates, taxes and fees vary by lender, state and credit. Check the final numbers on the signed contract. Nothing you type is sent or saved.
How this calculator works
- Equity = trade offer − loan payoff.
- Negative equity is added to the new amount financed. The calculator shows the payment and interest that amount adds over the new loan’s APR and term.
- Positive equity is subtracted from the new loan, with the matching payment and interest saved.
Assumptions and limits
- Uses your 10-day payoff figure from the lender, which is usually higher than the balance on a statement.
- Assumes the equity is applied to a new loan at the APR and term you enter.
Trade equity: questions
What does upside-down on a car loan mean?
You owe more on the loan than the car is worth. That gap is negative equity.
Can I trade in a car with negative equity?
Usually, yes. The dealer pays off the old loan and adds the shortfall to the new loan. It raises the payment and means you start the new loan upside-down too. Cash down, keeping the car longer or a cheaper car are alternatives.
How do I get my payoff amount?
Call your lender or check their website for a 10-day payoff quote. It includes interest through the payoff date.
Read next
Negative equity guide
What to do when you owe more than the car is worth.
Trade-in value guide
How dealers value a trade, and how to get a better number.
Sell a car you still owe on
Options when there’s still a loan on the car.
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