||Normally, dealers aim to make anywhere from $1,200--$1,800 per trade in. However, the factors mentioned before can affect the trade in value amount.
Auto Trade In Value
An auto’s trade in value depends on various factors such as the condition, day of the month, and the mix on the lot. Normally, dealers aim to make anywhere from $1,200--$1,800 per trade in. However, the factors mentioned before can affect the trade in value amount.
Maintenance And Trade In Value
Every consumer wants to get the most for their vehicle when it’s time to trade it in. You have to maintain it regularly, so it keeps its value. If you don’t change the oil when you’re supposed to, don’t keep it clean, or abuse it on the road, it’s going to show when it’s time to trade it in. Obviously, a car with torn or dirty upholstery won’t have the same value as one in good condition. Scratches or dents on the body will result in diminished value. Being careful about where you park and when you get in and out of your car can go a long way in your auto maintaining its value.
Make sure to clean your vehicle before trading it in. You’ll be surprised at what a wax job can do to increase the trade in value. You can clean the dashboard and side panels with Armor All®, vacuum the carpet, clean the windows, and wash and wax the exterior. These are simple things that can contribute to increasing your auto’s trade in value.
Factors That Affect The Trade In Value
Many factors affect your car’s trade in value in addition to the condition. You may not be aware that the day of the month and week can affect the trade in value. The reason is that if you go to the dealership at the beginning of the month or the week, the sales people may not be in a rush to meet a quota or receive a bonus. In this case, you may receive a lower offer than normal.
Moreover, consider the dealer’s mix in the lot. For example, if you’re trading in a silver Corolla™ and the dealer has several silver Corollas™ on the lot, the offer may be lower than what you would like. On the other hand, if all they have is white ™Corollas and yours is silver, you may receive a better offer. Rainy cold days are also good options to think about when trading in your vehicle. Business is normally slower on rainy days, and the dealer may be more eager to make a sale.
There are many online resources to help you determine your auto’s trade in value. Edmunds.com ® is a valuable site that you can use to educate yourself about trade in values. Take note of the asking prices on AutoTrader.com. This will give you an idea of what others are asking for vehicles similar to yours.
KelleyBlueBook.com is another valuable online resource where you can look up used car values. Furthermore, the InternetAutoguide.com is one of the many websites offering information on used car values, reviews, and used car prices among other categories.
Lastly, NASAGuides.com is one more website on your list of online resources for trade in values. Not only will you find prices, reviews, and car values for used vehicles, you will also find trade in values for recreation vehicles, manufactured homes, motorcycles, boats, classic cars, and even boats. You can keep visiting this site for all your trade in value needs.
Auto Trade In Definitions & Tips
Trade-in Value - The offer you receive from the dealer under the condition that you’ll purchase a car from him and apply the amount toward the purchase or lease of that new vehicle. Occasionally, dealers buy a vehicle outright for the trade-in value.
Suggested Retail - The suggested retail price is the amount that a dealer asks for when he sells a vehicle on his lot. Keep in mind that this price represents a completely reconditioned auto in excellent condition, both in the interior and the exterior. A dealer limited time warranty is often part of the deal.
Private Party – This is the price that a person would ask for if he sold the vehicle on his own. Normally, this type of purchase is made without a warranty. You lose many of the rights you would generally have if you purchased the vehicle from a dealer. Some dealers will attempt to sell cars under a private party label to avoid legal obligations. If you find that a private party selling a car is actually a dealer, your legal rights would still apply.
It’s important to understand that the trade in value has absolutely nothing to do with the pay off balance on your car. If you got a bad deal at the time of purchasing your auto, you may be upside down when you trade it in. This means that what you owe on the car is more than what you’ll get for it. In other words, you owe more than the car is worth. You have three options in this case: 1) You can come up with enough cash to pay off the balance; 2) Wait until you pay off the car; 3) Some dealers may be able to work out a deal where they can rollover the balance to your new purchase. However, this may only make the situation worse. You’ll continue to be upside down on the purchase of your new vehicle.
Overall, there is much that you can do to make sure you get the most on your auto’s trade in value. Maintaining it and caring for it properly will ensure that you get a fair trade in value. Being informed about what a dealer is looking for and needs is another way to increase the trade in value. Finally, taking advantage of online resources and utilizing them to educate yourself and compare prices and values will help you get the best trade in value for your car.