While it’s true that trading isn’t always as lucrative as selling on the private market, there are plenty of lifehacks you can use to squeeze more money out of your trade-in deal. Read on to discover our top tips.
Research Your Car’s Value
When you start to consider trading your car in, before you ever visit a dealership or talk to a salesman, do some research to get a rough estimate of your car’s trade-in value. There are plenty of places to do this online—sites like Kelley Blue Book and Edmunds are two of the most popular, and you can also value your trade on your local dealership’s website, which may also come with an appraisal or cash offer.To get the most accurate idea, it’s best practice to value your trade on multiple websites. Having a good idea of your car’s value is crucial when the time comes to negotiate later.
Keep Service Records
If you have your car worked on—whether it be at the dealership, by local mechanic, or DIY—always keep receipts filed away in a safe place. Detailed service records are another excellent tool when negotiating a car’s trade-in value because it proves that the car has a solid track record and has been well-maintained.Get Multiple Appraisals
When you finally start visiting dealerships to get an official trade-in appraisal, it’s tempting to go with the first offer. However, different dealerships may give you different dollar amounts, so experts often recommend going to at least three different ones before making a final decision.Remember, you can easily value your trade online at most major dealerships.
Detail Your Car
“Detailing” is auto industry slang that basically means a deep cleaning. You can have this done professionally, but spending money certainly isn’t necessary. Simply vacuum the carpets and upholstery thoroughly, wipe down any hard surfaces, and give your vehicle a good wash, and it can pay off big time.When dealerships value a car, cleanliness is a major consideration. In fact, it can even make the difference between a “rough trade-in” and a “clean trade-in,” which can get you hundreds more dollars on your appraisal.
Fix Minor Issues
If your vehicle has major mechanical or electronic problems, it may not be worth it to fix them before you trade. However, any easily fixable issues like burnt out headlamps and taillights, worn out windshield wipers, and small exterior paint chipping should be taken care of. Much like a good detail job, fixing these issues can have a significant impact on your car’s appraisal.Trade at the Right Time
Sometimes, when people trade a car in, it’s because it’s on its last legs and they need a new ride fast. But, if you’re lucky enough to choose when you trade, trading at certain times of the year can net you more value. For instance, you may get more for trading a convertible in the summer than you would in the winter.Trade-in values can also fluctuate based on the economy and the state of the car business, so trading when there’s a high demand for used vehicles can be massively beneficial.
Don’t Be Scared to Negotiate
Don’t forget, you don’t have to accept the first offer you get. If you did your research, kept service records, and got other offers, now is the time to break them out to see if you can get a higher dollar amount.Frequently Asked Questions
Does my trade-in count as a down payment?
Absolutely. Trading your old vehicle in can be an excellent way to cover some of the necessary down payment when financing your next car, and in some cases, it may even cover the entire down payment.What is the best time to trade my car in?
The less miles a car has, the more money you’ll likely get, and some sources recommend trading in between 3 to 5 years old if you bought a new vehicle because the factory warranty likely won’t have expired. However, there’s no one-size-fits-all answer. Broadly speaking, it’s never a bad time to trade a vehicle as long as it’s been well-maintained and is still in good mechanical shape.What is a rough trade-in?
When we say, “rough trade-in,” we mean a car that is exceptionally dirty, has glaring cosmetic issues, needs major mechanical repairs, or some combination of the three. These vehicles require a lot of work for the dealership to refurbish, so if you have a rough trade, you won’t get nearly as much as if it was in good condition.Can I trade my car if I still owe money on it?
Yes, in most cases you can trade a vehicle even if you’re still paying on the loan. You generally have two options: either roll your remaining payments into the new loan, or use your trade-in to pay off the old loan.What does it mean if I’m “upside down” on a car loan?
Being “upside down” on a car loan mean that you owe more than the vehicle is actually worth. This is otherwise known as negative equity.Get Top Dollar for Your Trade in Kansas City
If you’re looking to get the most out of your trade-in, use our easy online Value Your Trade tool to get an appraisal in seconds. After that, you can browse a top-notch selection of new Volkswagen models and affordable used cars for sale to find your next dream ride.Contact us online or call 816-941-9500 to get started today.
