Get the Best Trade in Price for Your Car

July 21st, 2021 by

Looking to trade-in your vehicle? Did you know a couple of mistakes here and there can cost you thousands of dollars? That’s why it is important to know the critical steps that make the difference between a great trade-in offer and a not-so-great trade-in offer. Here’s a look at nine steps that can help you boost the trade-in value of your vehicle.

1). Learn the trade-in value of your vehicle

The first thing you should do is learn the approximate trade-in value of your vehicle. This will give you some realistic expectations when it comes to looking at your trade-in offers. One of the best places to gauge the value of your vehicle is through Kelly Blue Book. You can enter information about your vehicle on the website. Some of the information that you’ll need to know includes the make and model of the vehicle, the mileage, the general condition of the vehicle, and specific mechanical issues. Kelly Blue Book will return three values:

  • Private party value – How much the vehicle should get if you sell it to a private party.
  • Trade-in value – How much you should expect to be offered for a trade-in.
  • Suggested retail value – What the vehicle is worth on the used car market.

2). Take care of mechanical issues 

After you have a good idea what your vehicle is worth, you can begin to take a look at any mechanical issues that your vehicle may have. For instance, does your vehicle have old brakes? It may be worth the investment to buy new brakes to boost the trade-in value of your vehicle. Other mechanical issues you want to take a look at include looking at the transmission, exhaust, battery, filters, alternator, belts, hoses, fuel pump, and water pump. The better the condition of your vehicle, the more you should get at trade-in.

3). Handle any cosmetic issues

Does your vehicle have any dings, dents, or windshield cracks? Then you will want to take care of those cosmetic issues yourself. That’s because some of these repairs can be complete inexpensively and prevent hundreds of dollars from being knocked off the value of your vehicle. When it comes to door dings and dents, you can have those repairs yourself using dent repair kits. Glass cracks can be repaired yourself or your can or professionally serviced. Other cosmetic issues to consider are any rips to the fabric or leather upholstery, missing control buttons, and damage to the headliner.

4). Detail your vehicle inside and out

After you have taken care of the mechanical issues, you want to make sure that your vehicle looks its best. Therefore, you will want to invest either the time or the money to have your vehicle completely detailed. If you want to save some money, you can detail the vehicle yourself. Simply make sure that the vehicle looks as good as possible. That includes cleaning out those hard-to-reach places like between seat cushions, the inside of the wheel wells, and the grille. The better that your vehicle looks, the better trade-in offers you will get.

5). Time your trade-in 

It is a good idea to time your trade-in offer so you can get dealerships competing for your vehicle. For instance, if you have a four-wheel-drive or an all-wheel-drive SUV, then you will want to consider trading in that vehicle in the winter when those types of vehicles are in demand. If you have a convertible, then you should consider trading in that vehicle during the summer. Trading in the right vehicle will allow the dealership to sell it faster which can lead to better trade-in offers for you.

6). Get three trade-in quotes

You don’t want to be dependent on one trade-in offer from a single dealership. Therefore, you must get at least three trade-in offers from three different dealerships. This will give you the best chance to get the trade-in offer that is best for you.

7). Negotiate your trade-in separately from any vehicle purchase 

Some dealerships will try to play games with you if you trade in a vehicle while purchasing a new or used vehicle at the same time. Therefore, you must negotiate your trade-in vehicle separately from your vehicle purchase. If you trade in your vehicle and purchase a new vehicle at the same time, you can find yourself with less than ideal getting less than you thought.

8). Consider the sales tax 

Also, consider the fact that your trade-in vehicle will affect the taxes that you pay on your new or used vehicle. For instance, if you get a $5,000 trade-in value and purchase a used vehicle for $18,000, then you are only going to pay tax on the $13,000 difference.

9). Review your trade-in price in your contract 

Be sure that you carefully review your contract and make sure that you are getting the trade-in offered for your vehicle. You don’t want to end up getting less than the negotiated price. If you do not see the trade-in value of your vehicle expressly written into the contract, then you should not sign the contract. A good dealership will not try to play games with the trade-in value of your vehicle in the contract.

Get top trade-in value for your vehicle at Kelsey Chevrolet

Don’t settle for second best when it comes to the trade-in value for your vehicle. At Kelsey Chevrolet, we pay top dollar for all types of cars, trucks, minivans, and SUVs. That’s what makes us one of the most popular dealerships in Greendale, IN. Visit our dealership today to get a great quote on your vehicle.

Posted in Trade-in