Can you trade in a car you're still paying a buy here pay here lot for?

You can, but on most buy-here-pay-here loans you'll be upside down for a long time, and that's the thing to check before you get attached to the idea.

Upside down means you owe more than the car is worth. It's common here because the price reflects the financing risk as well as the vehicle, and because the car is older to start with. Trading in doesn't erase that gap — the new lender adds it to your new loan, so you end up paying for the old car inside the payment on the next one.

Find out where you stand before you shop. Call the lot and ask for your exact payoff amount, then look the car up on Kelley Blue Book or Edmunds at trade-in value, not private-party. The difference is your answer.

If you're upside down and the car still runs, waiting is usually the cheaper move. If you need out because the payment is unaffordable rather than because you want something nicer, call the lot first — a lot that would rather not repossess will sometimes restructure, and that conversation costs nothing.