How to Get the Most Money for Your Trade In

How to Get the Most Money for Your Trade In

When you hop in your car to go on a drive, do you worry whether or not you are going to reach your destination? If so, it just might be time to consider trading your car in for something new or at least new to you.

Trading In Your Vehicle

Before you head of to the dealership to trade in your vehicle, you need to first understand the fair trade in value, to make sure you get what you deserve. Today, we are going to share some tips with you that will allow you to get the best possible trade in value for your car.

What Is Your Car’s Estimated Trade-In Value?

By definition, the trade-in value is the amount that a car dealer will agree upon to buy your vehicle. It is the proposed car sale price that you can offer to the dealer, but you may try to work out the inclusion of an additional amount for extra services. You can consult with a reliable car dealer to help you determine your estimated car trade-in value. It could be an ideal move since most Canadians are looking forward to using dealership financing for their next vehicle purchase. If you ask for their opinion, you will also get some tips about how to pick a used car if you plan to trade your old one for something newer but not exactly brand new.

 

How Much Is Your Car Worth?

According to used car dealerships in Dartmouth, to know the actual worth of your car, you need to determine the current market value for your vehicle. It would help if you took note of your car’s make, model, and year of manufacturing. You will also need to enter the car’s mileage. You may search for its value on online Canadian car value websites. Note that trade in value will always be lower than private sale value. Finally, make sure that your vehicle is in good working condition. You can ask a car dealer to inspect it thoroughly. They can examine if the tires are well maintained, and if the engine is  running smoothly. If you are not in a rush, you can have your current car treated to several services like preventive maintenance service to increase its value.

When to Trade the Car to Get the Best Value?

Since the car’s value generally decreases as it ages, it’s better to trade it in sooner rather than later to get the best trade-in price. To maximize the trade-in deals, some expert dealers suggest selling the vehicle while its mileage is less than 100,000 kilometers. But if you managed to maintain the car properly, you may still get a decent deal even if it already exceeded this milestone. Also, it would help if you remember that new car models typically come out during spring or summer. So most dealers work hard to clear their lots in late winter to allow space for the new cars. You may take advantage of this season to trade in your old car to buy a new one with a better deal.

How Do Car Dealers Decide On The Trade-in Value?

There are plenty of online car assessment tools that help car dealers assess a vehicle’s worth. But they are also trained to inspect the vehicle and determine its value just by looking at it. If they notice that your car is still in good working condition, they will propose a reasonable profit margin. They will also assess if they have similar cars in their lot. If they discover that there are several vehicles with the same make, model, and year, they may give your vehicle lower trade-in value.

Trading your car can be a tricky decision. You may want to dispose of your old car at the earliest possible time, but you still want to get the best value for it. So make sure that you know a lot about car trade-ins before you make the final decision and accept the proposal from your car dealer in Dartmouth.

 

Bryce

Bryce Newell is an automotive enthusiast who loves to write about the latest news, products, and DIY projects. While Bryce is an amateur in the field, he is passionate about cars and has been since he spent weekends in the garage helping his dad rebuild a 68 Dodge Charger as a kid.

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