Dealers are constantly searching for good used vehicles to have on the lot, so it’s a win-win when you bring in your vehicle to trade in at the time of purchasing your next vehicle. Make sure you get the most for your trade-in by following the tips below:
- Research the average value of your trade-in. You can use sites like Kelly Blue Book and Edmunds to assess the average purchase price for your vehicle. The price may fluctuate depending on the condition of your car.
- Up the presentation! Getting your car detailed and doing small things to make the car look more presentable will help you negotiate a higher price for your trade-in. Doing simple things like documenting regular oil changes and maintenance of your vehicle will also help up the ante when they are assessing your car's value.
- Get multiple quotes. It doesn’t hurt to shop your trade-in around before settling. Get a few dealerships in town to quote your vehicle in writing before signing your contract.
- Negotiate. It is important to negotiate your trade-in separately. Some dealers will use what they call a four-square sheet which will allow them to show a monthly price quote and hide the value paid for the trade-in while hiking up the price of the new vehicle. Avoid this by setting clear terms and checking that your trade-in value is written up in the contract.
Buying a vehicle can - and should! - be an exciting experience, and having a trade-in can help bring down the overall cost of driving off the lot. Be sure to follow these steps and do your research in order to get the most bang for your buck!