What If I Owe More on My Car Than the Amount of Your Offer?

You might want to, even need to sell your car but what happens if you’re financing it and owe more than it’s worth? That’s an unfortunate and all too common situation which is commonly known as being upside down in your car. The difference between the amount you still owe on your car is and the offer for your car is called "negative equity."

While it’s easy to think that you’re stuck with your current vehicle this doesn’t have to be the case. If you choose to buy a vehicle to replace the one that you’re selling, it is sometimes possible to incorporate the negative equity into the amount you’re financing. Whether your goal is to get a different vehicle or to simply get rid of your current one, your best bet is to use The Big Lot.

First, The Big Lot makes you an Instant Cash Offer based upon Kelley Blue Book® values. That means you are getting the best offer for your car because it’s based upon the national values established by the most trusted and established used car authority in the country. Since you’re getting the maximum for your car, the negative equity amount will be smaller.

Plus, The Big Lot means you’re selling to a local dealer who will work with you to do everything possible to resolve your situation with the best possible outcome. That’s the difference when you go with a local dealer through The Big Lot. To make disposing of your vehicle easy, you can give the dealer you choose to work with the outstanding amount, and they’ll settle with your lien holder. If you need time to get the funds to settle your account, don’t worry. Your Instant Cash Offer is good for seven days.