How to Maximize the Trade-in Value of Your Car?
When it comes time to get a new car, you do not have to take the minimum amount of value for your trade-in. By taking a few easy steps, you can ensure that you will maximize the trade-in value, which means that you will not have to get such a large loan to buy your new car.
Protect the Cars Finish for Better Trade-in Value
One of the first things that a dealer will look at on your trade-in is the paint and the exterior condition. Just by glancing at it may mean that an opinion is quickly made that they are not going to give you much for it. Keeping up the exterior condition is essential by keeping it clean and waxed and possibly in a protected space as much as possible. A dealer will also look at the exterior to find places that have been repaired. If the paint is terrible, spraypainting it will give you a better resale value.
Find Out the Car Values Before Going to the Dealer
Before you just come up with a figure that you think the car is worth, you should go to a professional guide to give you more realistic numbers. Start by looking at online resources that provide blue book values for you. Also, should look at what used cars are going for at AutoTrader.com. Do not make a mistake thinking that a dealer will give you the amount you still owe, especially if it is a newer car. Different dealers will also give you different amounts, especially if they already have the same models on their lot.
It is important to remember that a dealer is buying your used car like a businessman. They know if they will be able to profit from it or not. They also have to allow a little leeway on your trade-in car value to cover any expenses they do not know about yet when they get it ready to resell.
Keep the Car Well Maintained for Best Results
When a dealer checks out a car you want to trade in, they will first check the service book to learn its history. Then they will take it for a spin around the block and then look under the hood. If they find it has dirty engine oil, or the engine is covered in oil, and transmission fluid is leaking, you can be sure that you will not get very much for it. You may want to get your trade-in detailed before going to a dealer and make sure to remove the smoke smell if you smoke.
Go to More Than One Car Lot and Compare
Different dealers will estimate your trade-in value differently since there is no actual value on a used car. It is subjective to many factors, but the dealer will give you the bottom line. Even if a dealer gives you what you want, they may be adding extra prices somewhere on the cost of the new car. By going to more than one dealer, you can discover what they are willing to offer for trade value and then start your dealing from there. An online car trade-in value estimator may also help you know what it may be worth.
Thank you for reading and hope you have a good rest of the day!
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