How to Increase The Value Of Your Trade In

How to Increase the Value of Your Trade-In

When it’s time to start shopping for a new car, many people look to their old vehicle for trade-in credit toward the purchase. Old or new, all cars have a value that you can use as a down payment, reducing your purchase price and cutting your monthly payments if you’re financing. That said, it’s a good idea to do some legwork before heading to the dealer to make sure you’re getting the most for your trade.

Do Your Homework

The best thing you can do to ensure a fair trade value is to do your homework. It’s important to know the value of your current vehicle and how it compares to the price and value of the car you’re looking to buy. Checking online valuation tools like Kelley Blue Book and NADA will give you a good starting point, but keep in mind that dealers work with industry data that might differ slightly from what you’re able to find on the internet. 

At the same time, it’s a very good idea to have your vehicle inspected before heading to the dealer. You’ll want to identify any issues or maintenance needs and have them addressed. A well-maintained car is worth more than one needing repairs, so spending a little to keep up with things will net a larger payout at the dealer. 

Discuss Numbers Separately

It’s a good idea to keep the trade conversation separate from the discussion of the new vehicle’s purchase price. Centennial Subaru will always give you the best price for your trade and on your new purchase, but discussing the trade-in value separately from the purchase price will make it easier to keep track of the numbers and the process. 

Clean Your Ride

You wouldn’t want to sell a house without mowing the yard and vacuuming inside, and the same thing applies to selling your car. Spend the time to make sure it’s clean, inside and out. Wash the exterior and clean the wheels, making sure to remove bugs and road debris. Clean the glass, inside and out, and wipe down hard surfaces in the cabin to remove dust and other dirt. If your seats or carpet are stained, rent a shampooer or have the vehicle professionally cleaned to remove them. The same thing applies to smells, especially if you have pets or the car has been smoked in. A good detail shop can work wonders with both stains and odd smells, so it’s a good idea to spend the money on a pro if you feel your car needs it.

Other Sale Options

You could pursue a private sale, which in many cases can yield a higher payout, but there are many considerations that can make a private transaction a much more significant hassle. Beyond the financial considerations of transferring large amounts of money between two individuals, there’s a ton of documentation, and it can be complicated to determine which party completes which form, and so on. At the same time, many states only require that you pay sales tax on the difference between the trade allowance and the new car’s purchase price, so there are notable benefits to trading in. 

When you’re ready to start your shopping journey and want to find out how much your trade is worth, come see us at Ewing Buick GMC. We’ll give you a no-pressure assessment of your vehicle’s value. Even if you don’t buy a new car, you’ll leave armed with the information you need to make the right decision when the time comes to close the deal.