6 Effective Ways to Obtain the Best Trade-In Deal for Your Car
These strategies will give you an upper hand when trading in your old vehicle for a new one.
Shopping for a new vehicle? Don’t forget to account for your trade in! Trading in your current car is a surefire way to put yourself at an advantage for your new car purchase. Proceeds from such a sale can effectively lower costs for the acquisition of a new vehicle and set you up for a great deal.
However, trading in a car is not as easy as it seems. If you have specific goals and targets, it becomes even more challenging. How do you even know if your car is ready for a possible trade-in? Here are some effective tips on how to navigate the trade-in process and get the best price for your car.
1. Clean up the interior.
Keeping your vehicle in ship shape can be a challenge, especially the interior. You might overlook dust and crumbs scattered in the passenger seats or in the floor carpet. As you prepare for a trade-in, remember that a messy car will not command a good trade-in price. Before going to the dealer for the trade-in, clear out the car’s interior, de-clutter, and put on some fragrance so it’s ready for sale.
“A messy car will not get you a good trade-in price.”
2. Have some minor repairs performed.
Minor damages to your car can often be quickly repaired without incurring much cost. Doing so can dramatically increase the marketability of your car. But don’t go beyond minor repairs. For damages that require major fixes, simply leave those as they are and let the dealers take care of it. It would be far cheaper for them to take care of it given their resources. Additionally, shouldering that cost yourself will likely not result in enough net profit for your decision to make financial sense.
3. Prepare all the required documents.
Presenting the service history of your car before the dealer even asks for it would surely be appreciated. Every buyer wants to be fully informed before the buy. Be sure to regularly update your registration and warranties. Show the trade-in buyer how responsible and organized you are as a car owner. Taking these small steps will surely pay off.
“Presenting the service history of your car before the dealer even asks for it would surely be appreciated.”
4. Clear any liability.
If the car was bought with financing, be sure to have already paid off that loan completely before trading in the vehicle. Dealerships are not excited to carry the remaining loan amount that comes with a car.
5. Know your car’s worth beforehand.
When it comes to trading in a car, no one benefits from surprises. All of us hope our car will command a significant amount when traded-in for a new vehicle, but without knowing it’s value, you lose your most powerful bargaining chip. Thus, it is always advisable to do your homework to find out how much your trade-in would be worth. There are now numerous tools and resources online for exactly this purpose.
“It is always advisable to do your homework to find out how much your trade-in would be worth.”
6. Know the value of good timing.
Consider a strategic timing for trading in your current vehicle for a new one. You’ll be happy to know that there’s always an opportunity to raise the possible price your car will get. For instance, four-wheel drive cars and SUVs are better sold during winter when their features become more useful to drivers. Small cars and convertibles always sell better in summer.
If you need more assistance with your car purchase, be sure to contact our team at [email protected]!