Trading In Your Old Cars

by Bianca Villares

The deal behind trading in used cars may seem simple enough. Head out to the car lot, show your used car to the dealer and ask for the trade-in price— the amount which the dealer will pay you for your vehicle. But if you want to get a fair deal out of your used car, you can’t afford to overlook some basic details.

Start by knowing what to expect from trading in your used car. The trade-in price is lower than the private-party price, which is what you hope to be able to sell your used car for to individual buyers. Understand that dealers must account for certain costs such as inspections and reconditioning, which makes the trade-in price cheaper. But then again, trading in your used car is faster and less stressful than selling it on your own.

Know what your used car is worth. Most people depend on used car values found on the internet or books which are accurate most of time—given that your vehicle is in good condition. The amount that the trade-in will bring actually depends on a number of things, such as vehicle history, mileage, running condition, paintwork, and interior. Any dealer would surely check these things to evaluate your vehicle’s trade-in price. Consider having a few minor repairs on your car if you wish to increase its value; cheap repairs can go a long way every so often. The curb appeal and general condition of your vehicle determines its actual worth, despite the values posted on the internet.

Find a dealer who’s looking for a vehicle model the same as your used car. This requires added research on your part, but it’s all worth the effort. Find out if your vehicle has a place in the product and inventory mix on the dealer’s lot. They won’t give much for your car if they have a number of vehicles the same model as yours parked in their lot. But if you happen to offer a model to a dealer when they’re running low, they might step up the bargain.

If you are in a hurry to replace your current car, then trading it in is one of your best options. But like any investment, you should look out for your interests by getting a good deal. Prepare your vehicle and arm yourself with as much information as possible before trading in your used car.