Three Ways to Get the Best Value for Your Trade-In Used Car

trade-in

Few people wait until their car is broken down beyond repair to buy a new one. So when it’s time to upgrade, how do you get the most money for your old set of wheels? If you’re looking for the best return on your vehicle, selling privately is always the way to go. But not everyone has the time or the expertise to sell a car themselves, which is why trading in your vehicle is also a viable option. You won’t get as much as if you sell privately, since the car dealership has to make money on the car as well, but you’ll save yourself time and the effort of negotiations. When taking a car to a dealer as a trade in, keep these three things in mind to maximize your return.

Clean and service regularly

Good car maintenance and service can’t be done well the day you drive your vehicle to the used car lot. You should be keeping up with regular maintenance and repairs from day one. Putting off oil changes, brake changes and other necessary repairs can cause serious, permanent damage over time, which can lower the value of the vehicle.

Know the value of your car

With so many resources available online and in print, it’s hard to know what your car is worth to a dealer. The Kelley Blue Book is the standard price guide, and is a good starting place. Keep in mind that you should be looking for the wholesale price, not retail price, since the dealer will be reselling the vehicle. Check car auction sites in addition to the Blue Book to see how much dealerships are paying for real vehicles. An auto loan combined with a good trade-in price can make your new ride much more affordable.

Shop around

Don’t go to one dealership and expect to get the price you’re looking for. Taking your vehicle to multiple lots not only encourages higher bidding between dealerships, but also you have a better chance of finding a car dealership that really needs your vehicle. Dealership number one may have five cars just like yours on the lot, and not need a sixth, while dealership number two could be looking for what you’re driving.

If you’re interested in trading in your vehicle for something new, but can’t quite afford it yet, consider an auto loan refinance as a way to pay off the loan more quickly. Then when it comes time to sell, keep these three tips in mind to get the most for your used car trade-in.

Photo by http://www.flickr.com/photos/crobj/

Comments

  1. Agreed about servicing regularly; it does pay off in the end.

  2. I’ve actually never sold or traded in a car. I’ve always run them into the ground (or a telephone pole, oops). I’m not one of those people that has an emotional attachment to vehicles or needs to feel validation for other people’s opinion of my vehicle. So I drive a car until it would cost more to fix than replace and then sell it the junkyard for scrap prices.

  3. We do service our car regularly. But I will admit that these tips were much needed, I wish I knew more about vehicles. In order to not get cheated we conduct all of our car sales and purchases through Carmax.

  4. There will always be a good result when you take care of your car most of the time. It is one of the roles of owning a car which is the maintenance. When you maintain your car everyday, there are a lot of benefits it will achieve not only into the present situation but also into the future situation which you have discussed. There are a lot of benefits it can make like the security when using the car, a good value of the car because of the good practice and a lot more.

  5. Just keeping your car serviced and maintained will keep it running so long as there are no internal manufacturing issues that need to be addressed. That is the key to getting the most for your trade in!

  6. There is nothing wrong in buying a old car but you should really care about its maintenance

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