Getting the Most Value Out Of Your Trade-In

January 10th, 2020 by

How To Maximize Your Trade-In Value

While getting a higher price selling your vehicle privately is tempting, there are also many advantages to trading your vehicle at the dealership. While convenience is a large part of it, you also don’t have to advertise, set up test drives with strangers or go through a buyer backing out of a deal last minute. Be sure to do some research on your vehicle first so you can walk into the dealership with all the facts you need to negotiate a good trade-in value.

One of the most important factors when it comes to a trade-in is the physical condition of your vehicle. You should have your car or truck detailed inside and out before attempting to trade it in. Check the bodywork as well and get dents, scratches and other imperfections fixed. Use your judgment on this one, if you don’t think you can make up the cost of repairs with the added trade-in value they provide, it would be better not to have them done.

Trade-in value is based on several key factors. Make and model, year, mileage, condition and the desirability of your vehicle overall. Usually, the newer a car is, the higher the offer will be. Newer models are more likely to sell quickly so a car dealership will pay more for those. If you have an older model with higher kilometers, you may want to take advantage of a push-pull drag offer when its available. If a vehicle’s make is of higher quality, in high demand or depreciates slowly, it will have a higher trade-in value. When the kilometers on your vehicle goes up, the trade-in value goes down. Keep an eye on your kilometers per year and trade in before it gets too high to maximize your trade-in value.

Keep up on your maintenance and fix the little things such as a burned-out tail light. Keep records of your maintenance done over the years. This shows the dealership that you have taken care of your vehicle and they may offer more for your trade-in. Make sure your tires are in good shape. If they are looking rough, it may benefit you to replace them with an inexpensive set.
If you have any questions or are looking to trade in your vehicle for an upgrade, please give us a call at Abbotsford Volkswagen and we will be happy to help you!

Posted in Finance, General