Posts Tagged ‘Trade In’
One of the most mystifying portions of the car buying process for customers is when a salesperson values their car for trade in. Most customers are left wondering “How did they get that number?” It doesn’t have to be such a mystery.
The first and most important thing to know is that your vehicle isn’t inspected by a mechanic; it’s evaluated by a sales manager. They base their trade offer on the car’s feel as it drives, engine sound, and visible condition. You can do a lot to affect the value of your vehicle before you visit a dealership that will make the process smoother, and potentially get you more money for your trade:
- Clean your car – Dirt caked on the exterior could be hiding body or paint damage. The appraiser can’t clean it, so they’re going to assume the worst case scenario and deduct $300-$500 to cover any “surprises”.
- Fix windshield cracks and chips – Most insurance plans cover this at no cost to you, but it costs a dealer upwards of $600 to fix, and they dock that from your trade offer.
- Know your car’s mechanical issues and their severity – A rattle or check engine light could mean a multitude of things. A dealer will protect their interests, which could mean deducting anywhere from $300 – $1000, unless you can tell them what the rattle or light really is. Then they only dock the cost of that specific repair.
- Bring everything – Bring your spare keys, extra sets of tires and a Carfax Report, if you have them. The more information the appraiser has the less they have to guess. Additional items, like an extra set of usable tires, also raise the resale value.
- Supply and demand – Use the laws of supply and demand to your advantage by trading a 4 wheel drive vehicle during the fall and winter, or a front wheel drive, 4-cylinder vehicle during the spring and summer
- Don’t withhold information – Hold your trade to the same expectations and honest evaluation you would when you shop for a car and you’ll walk out with the most money.
To hear more about the trade-in process check out this video with the H-Team’s used car manager, Ryan Denecker, and feel free to contact the H-Team with any questions on your trade