Ever looked at your car and wondered how much you’d get for its current state? Well, if you’re looking to treat yourself to a new car then trading in your car is one of the most convenient ways to sell it.
For people who are not willing to sell their used car privately, or want to avoid all the added admin that comes along selling your car privately, then opting for a dealership trade-in is the easiest option. The downside is that you’ll take a knock in price because the dealership will need to factor in the reconditioning costs but the big plus is that your selling experience will be the most convenient one yet.
If you follow these tips, you can get the most for your trade-in:
Although it may be your most valued possession, be honest about the condition of your car when you value it. The condition standards change according to the dealership, so don’t go by the book retail value. Make sure you do your research in comparing the make, model and age. Sometimes it is even better to get a completely independent quote before approaching any dealership. The sad truth is that you will always be able to make more money on your vehicle when you sell it privately but there are always more risks involved that sometimes aren’t worth the admin. No more scams, paperwork or unwanted test drives on a Saturday morning. Trading in your car can be a complete breeze if you know what you’re doing.
Do your research and make sure that you have all the knowledge you need before approaching a dealership. Often dealers will use terminology that you are unfamiliar with, which can make your trade-in experience challenging, and sometimes, you might leave with less than you’d hoped for. Make an effort to do your homework and know what the going rate for used car sales are when it comes to your make and model. Also, try to determine your own price before the dealer sets the benchmark for you.
When you have a car that has nicks and dents, dealers tend to offer less because of them having to factor in the changes they will need to make to the car before they can consider selling it. If you can, service your car and fix up a few essential things without overdoing it. Make sure that you mention everything that you have done to the car and what you have put into it, to ensure that your deal is as attractive as you’d hoped for it to be. With that in mind, buy your new car at the same dealership if possible. Most dealerships have targets that they need to meet, so they would want to sell your trade-in as quickly as possible to get you into a new car. Killing two birds with one stone could really benefit you.
Like everything in life, timing is key. Whenever you choose to trade-in your car, make sure that you hit the best possible timing in the year. For example, trading in a convertible might not be an easy transaction during the winter months. Or a petrol-guzzling car might not be easy to trade-in straight after a fuel increase. These are all small details that really make a difference in your trade-in or trade-up. The good news is that once you hit the best timing and everything runs smoothly, it’ll be the quickest process ever.
When you decide to trade-in your car, take the time to scope out each dealership to see which one will best suit your trade-in car. Don’t limit yourself to one area or drop your price just because it’s the easiest way to go. Cars are investments, and as much effort as you put into buying a new vehicle is the same amount that you should put in when looking to find the best price for your used car. A big perk about working with a dealership (as opposed to private people) is that once you have chosen the dealership you want to work with, a single dealer will handle the entire process from start to finish.
The last thing you need, when selling your car, is stress. There is no doubt that peace of mind and simplicity of trading it in outweighs the hassle of trying to sell it privately. So, if this is at the top of your mind or something you’re on the fence about, it is definitely worth exploring. Don’t settle for less on your soon-to-be ‘old’ set of wheels. What you make on your old car will contribute to your trade-up.
