5 Tips for Trading in Your Car

A lot of people feel anxious about trading in their cars because they worry they won’t receive a good value at the dealership. Follow these five tips to make sure you receive a fair price and positive experience.

Keep Detailed Maintenance and Repair Records

A dealership will want to know you have taken good care of your car. Giving them detailed maintenance and repair records proves that the vehicle is in top condition for its age, which could result with the dealership offering more money for it.

Ideally, you should keep your oil change receipts as well as invoices for major repairs to provide proof of consistent maintenance to the dealership.

Fix Any Small Problems

Small problems can make your car look unappealing, which will lower its value from a salesperson’s perspective. Having small problems fixed now could mean you receive more money at the dealership. Small problems include things like dents, scratches, and peeling window tint. They don’t cost much to fix, but they could lower your vehicle’s trade-in value.

Clean the Car Thoroughly Before Trading It In

No one, including your dealership, wants to buy a dirty car. Spend some time cleaning the interior and exterior to make your car look its best. You may want to hire a professional to do the job for you. The better your vehicle looks, the more likely it is that you will receive a good trade-in value. Plus, dealerships can justify giving it a higher value because they don’t have to spend time and money having the car detailed before putting it on the lot.

Know What Your Car is Worth

Most dealerships will give you a fair value for your car, but that doesn’t mean you should trust them to have accurate information. Use a trustworthy source like Kelley Blue Book to find out how much your vehicle is worth. That way, you will know which offers to accept. Knowing the value of your car will also help you if you need to negotiate with the salesperson.

Tell the Dealership You Plan to Trade in Your Car

A popular myth says you shouldn’t mention your trade-in until after you have negotiated the sales price of your new vehicle. This technique, known as parachuting, sounds like good advice, but it won’t benefit you.

Parachuting assumes that a salesperson can somehow manipulate you into accepting a lower trade-in value or a higher price for your new car. If you have done your research though, you already know the approximate values of both vehicles, so you don’t need to withhold information. Besides, if you don’t mention your trade-in upfront, then you will have to wait for the dealership to evaluate the vehicle. Depending on the time of day and type of car you have, this could take anywhere from a few minutes to over an hour.

You don’t have to feel nervous when trading in your car. Just be sure to follow these simple tips for guidance.

Image by 3D Animation Production Company from Pixabay 

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