Value Your Trade
Why Valuing Your Trade-In Is Important
Knowing the value of your vehicle before you head to a dealership to trade it in gives you an advantage. You can use a value estimation tool to find out what your car is worth. With this information, you’ll be ready to work with a dealership to get the best price for your car. Using the trade-in amount, you can lower the cost of the vehicle you want to buy, as the offer can roll into the purchase price of the new car. Getting an accurate car appraisal is key to understanding the true value of your vehicle.
For example, a reputable car value estimator will give you an accurate picture of what your vehicle is worth in its current condition. When answering questions about your car, be honest about its mileage and condition. Saying your vehicle only has 98,000 miles on it when it really has 120,000 miles won’t provide you with a true value. So, when you go to the dealership, you may believe your vehicle is worth more than the offer. Being truthful and upfront will get you the most realistic estimate of your car’s true value.
Factors That Affect Your Trade-In Value
Several factors can affect your car’s trade-in value. The best thing you can do to retain the most value from your vehicle is to take care of it the entire time you own it. Your car’s age plays a part in how much it’s worth when you trade it in, but a well-taken care of vehicle will always have a higher trade-in value than one that isn’t. The vehicle’s mileage will also affect its trade-in value. The more miles on the odometer, the less the car is worth.
The year, make, and model are also factors that affect trade-in value. Some vehicles are more sought after than others, so those models will have a higher value. A popular model will sell faster than a less popular one, so a dealer will pay a little more because they like to have the vehicles people want. Not putting a lot of miles on your car and keeping up with routine maintenance can help you get the most from your vehicle when trading it in.
How To Get an Accurate Trade-In Appraisal
For the most accurate trade-in appraisal for your car, you can use a reputable dealership or a trustworthy company, such as Kelley Blue Book or Edmunds. These companies usually have estimation tools on their websites that can give you a trade-in value in just a few minutes. The estimate you get is based on the information you provide about the vehicle. You’ll need to have the following information ready to ensure you get the most accurate estimate:
- Vehicle identification number, or VIN.
- Year.
- Make.
- Model.
- Mileage.
- Accident history.
- Trim level.
- Upgrades.
- Aftermarket parts or accessories.
Providing your address will also help with the estimate. Your location can determine how much your car is worth. This is because different cars are more desirable in certain areas or regions. Trucks, for instance, are popular in farm and ranch communities where people need them for work, so they may have a higher price in these areas.
Preparing Your Car for Trade-In
By doing everything you can to make your car more appealing, you can potentially increase its trade-in value. Although you can’t change the mileage or year, you can clean the vehicle’s interior before you take it to the dealership. Remove all trash and personal items from the cabin, including anything in the center console, trunk, or glove compartment, except the owner’s manual. Vacuum the carpet, upholstery, and the cargo area, and shampoo the interior if possible. Washing the exterior gives it that extra shine, making it look new, so thoroughly clean the outside of your vehicle.
Have all of your car’s service records on hand. Having proof of oil changes, brake jobs, and tire replacements can help prove you’ve taken care of the vehicle, increasing how much a dealer is willing to pay for it.
Negotiating Your Trade-In Value
No matter what your vehicle trade-in estimate is, negotiating for a better price is always an option. Use the estimate as a guide, but you know your vehicle best, and you can advocate for it. If you get an offer you feel is too low, show a dealer similar vehicles in the area going for more. Or get other offers from dealers in the area and use those to show you can get a better deal elsewhere.
If the dealer won’t budge on their offer, you may have to walk away from the deal. You should be prepared for this so you don’t trade in your car for less money than you think it’s worth. However, it’s important to understand that a dealership has to resell your vehicle. They deal with the hassle of advertising, showing it to prospective buyers, answering questions, and doing the paperwork to sell the car. So, the dealership only pays you a portion of the vehicle’s value if you trade it in. But it’s often worth the convenience.
Ready To Trade In? Visit Hyundai of Auburn Today
Are you ready to trade in your car? You can make an appointment with our finance center to learn more about how to trade in your car. If you are looking to upgrade, you can also browse our inventory of exciting new models from Hyundai.