Whether you’re looking to earn some extra cash or you’ve decided to upgrade your ride, it is important to ensure you receive the highest price for your vehicle. This article will help you get the best car trade in value deals while saving them time and hassle involved.
Car dealers might seem disinterested at first, but they’re constantly looking for good used cars to resell. They can make as much as $4,000 on a good used car, compared to the high markups on a new car.
Your old car might have some unexpected value in it, so follow these steps in order to get the best possible price on your car trade in value.
Steps to get the best car trade in value deals
Investigate the trade-in price
The 1st step in negotiating for a better offer is by finding out the trade-in prices of similar cars. Use the many car trade-in tools available online, such as NerdWallet’s car value estimator, which uses data from the NADA or the National Automobile Dealers Association. You could also check with pricing guides online, but don’t forget to include the correct mileage and condition of your car to get the best-estimated value of the car trade in value. Get the best car trade-in value for free.
First impressions make a difference
Spend some time (or money!) on making the car look as good as possible. Take out your washing tools and scrub away the dirt. Vacuum and sunbathe the interiors and put up an air freshener. Consider fixing minor scratches and dents and make sure you empty out all your personal belongings before you take it to the dealer.
Get quotes from multiple dealerships
Now that your car is all cleaned up, you need to drive it to at least 3 dealerships to get an idea of the different quotes for a trade-in to get the best car trade-in deals. Make sure you get written quotes so that you could leverage the deal when it’s time to negotiate. When you finally make a decision where you’d like to buy your new car, you’d be able to use the highest figure for negotiation. Maintain a record of the maintenances you’ve done along with a vehicle history report to further strengthen your bargain.
Keep the trade & purchase negotiations separate
You must keep the negotiations about your trade-in separate from negotiations on your new ride unless the value is worth it. You need to figure out which of these would negotiations would happen first? Once you’re at the dealership, either ask to buy a new car or simply ask for the trade-in price, but don’t do both at the same time. This will ensure that the dealership does not hide the price of the trade-in AND hike up the cost of the new car and once you know both, you’ll be able to make a well-informed decision.
Make sure to review the contract
Once you’re done negotiating and fixing the price of the trade-in, make sure you go over the contract multiple times. This is to ensure you are getting the same price on what you agreed upon and there are no other ‘hidden’ charges from the dealership.
Now that you have all the information you need, you can set up your trade-in appointment at Car Factory or call (786) 406-6234 to get the most genuine price offer! We have over 800 vehicles in between our Miami and Hollywood locations to get you in your dream vehicle.
Recommended Read: Car Dealer Secrets: How To Prepare Your Used-Car For Trade-In
How does it work when you trade in a car?
When you trade-in your car to a dealership, its value is subtracted from the price of the new car. When you trade in a car with a loan, the dealer takes over the loan and pays it off.
What do you need to trade in a car?
Before you get trade-in these are some important documents and other items you need, which may include: Vehicle title, auto loan payoff, and account information (if you have an auto loan), current vehicle registration., Driver’s license. & All vehicle keys.
What is the best mileage to trade in a car?
Because depreciation is constant, it’s best to sell or trade-in your vehicle before it hits the 100,000-mile mark.
Is trading in a car worth it?
You should trade in or sell your car every 2-3 years. Start by looking at your car’s trade-in value, or the dollar amount you will receive from selling your car to a dealer when buying a new one. If it’s high enough to give you a low monthly payment, it may be worth considering.