Trading in a car that is financed?

I have a 2014 ford fusion se. I still owe 17k on it. I have financing through ford credit and would like to trade it in to buy a ford f150. Do you think ford would be willing to terminate my loan on the fusion and allow me to finance a new f150?

You owe a lot more than the Fusion is worth and that's called being "upside down" in the car. They won't terminate your loan and it's doubtful you will get the loan amount on trade in as dealers only pay wholesale if that for a traded vehicle. What they will do IF your credit score is high enough and LTV (Loan to Value) meets their lending parameters, meaning you put a big, big cash payment in, is roll whatever is left into your new loan on the truck instantly putting you WAY, Way upside down in a new truck. Without a massive cash down payment, your LTV will be well over 100%. No bank is going to do that. Sure they will terminate it. Just as soon as you pay it off. You might trade even for a 10,000 used truck through the same dealership. Trade-in value on a 2014 Fusion SE is around $12,500. You're seriously upside down on your car, and unless you have some extra cash to kick in for a trade, it's probably not going to happen. Creditors don't "terminate" loans. You can pay them off early. Sometimes, if you are upside down, as you are, you can trade it in, and add the delta between the trade in value, and the balance of the old loan onto the new loan.

I had a car that was worth 4K, but I owed 6K. I really needed a larger car because it wasn't comfortable for my family on long trips. I got a really good deal on a new car, and even with the 2K difference between the trade value of the old car and the loan payoff, I was able to get a loan

You are much more upside down, and I doubt you are going to find a deal good enough on a new truck to fold the delta into the new loan. Try to start making double payments on the Fusion, and get the payoff closer to the trade in. I'm certain they will but that they'll give you a terrible trade in valuation. But you need their decision not mine.

Sure they will terminate it. Just as soon as you pay it off.

You might trade even for a 10,000 used truck through the same dealership.

Trade-in value on a 2014 Fusion SE is around $12,500. You're seriously upside down on your car, and unless you have some extra cash to kick in for a trade, it's probably not going to happen.

Creditors don't "terminate" loans. You can pay them off early. Sometimes, if you are upside down, as you are, you can trade it in, and add the delta between the trade in value, and the balance of the old loan onto the new loan.

I had a car that was worth 4K, but I owed 6K. I really needed a larger car because it wasn't comfortable for my family on long trips. I got a really good deal on a new car, and even with the 2K difference between the trade value of the old car and the loan payoff, I was able to get a loan

You are much more upside down, and I doubt you are going to find a deal good enough on a new truck to fold the delta into the new loan. Try to start making double payments on the Fusion, and get the payoff closer to the trade in.

I'm certain they will but that they'll give you a terrible trade in valuation. But you need their decision not mine.