Trade Equity Calculator
Find out if you have positive or negative equity in your car: trade-in value minus your loan payoff, explained in plain English.
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Your lender can give you an exact payoff amount, which is usually a little different from your balance.Your equity–
Trade value–
Payoff–
What equity means
Equity is what your car is worth minus what you still owe on it.
- Positive equity: the car is worth more than the loan. The difference can go toward your next vehicle, like a down payment.
- Negative equity (being "upside down"): you owe more than the car is worth. That gap doesn't disappear when you trade. You either pay it off or roll it into your next loan, which raises that payment and the interest you pay.
When you trade in, the dealer pays off your loan as part of the deal, so you don't have to make a trip to the bank. Want to see how equity changes a payment? Try the auto loan calculator.