Trading in your car is probably the easiest option if you’re looking to buy a new vehicle. Although trade-in is convenient, that does not mean it’s not a bit complicated.
If you want the best deal for your car, it’s essential to take these steps to maximize your trade-in value.
1. Know the value of your car.
Negotiating is the best way to get the best deal for your car. To negotiate, you’ll need to know the value of your vehicle. Knowing this will take some research, but it’ll be worth the extra effort in the long run.
You can find many websites that will give you a detailed appraisal for free. Knowing your car’s value can also allow you to be confident enough not to take the first deal handed to you. Work towards a price you believe you deserve for being such a diligent car owner!
2. Stage your car appropriately.
Although staging your car for the dealer is not a necessity, it may just bump up the value. A good car wash, personal detailing, and exterior wax all make your car look well taken care of. The cleanliness may reflect how you treated your car when you owned it.
However, it is important not to spend too much money making your car look spiffy. A pricey detailing and expensive new tires are not a sure-fire way to bump up the financial value so weigh the cost accordingly.
3. Prove that you have taken care of it.
It is a good idea to have documentation of the work that you have done on your car to prove that you were a responsible owner. This may take a few phone calls, digging through drawers, or searching through your email.
If possible, create an organized and detailed list of your car’s history. Taking the time to organize can help you gather the information you need for negotiations or to answer questions the dealer may have.
4. Research, research, research.
The smartest way to save money is to spend some time researching before making any final decisions. One thing to research that could save you a great deal of money is dealership promotions.
The trade-in value is based not only on the quality of your car but also on inventory and public demand. Keep an eye out for when the demand is high, and the inventory of your vehicle is low in your area. Knowing this will do wonders for your wallet!
5. Stand your ground and follow your gut.
Just because you discussed trading in a car with a dealership does not mean you are obligated to do it. If you are unhappy with the negotiations, keep searching in other places.
Be firm about your asking price- don’t be afraid to walk away. You deserve a great deal…so go get it!
Trading in a car can feel overwhelming, and sometimes it’s hard to know where to start. Take your time, do the research, and rest easy knowing that you are getting the best deal possible.
If you aren’t ready for trading in your car then consider our article 5 Renovations That’ll Increase The Value Of Your Car!