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McCluskey Ensures That You Get the Best Trade In Value

Trade in and Trade up: Getting the Best Value on Vehicles you Don’t Even Need

It’s finally time to get that new car you have been dreaming of. You worked hard, regulated your finances, did the research, and found the best choice for your lifestyle, but what do you do with your old vehicle? Well, the answer is simple; you trade it in and get the best trade-in value. Trading in a vehicle allows for a smooth transition from one car to the next while getting you some extra cash off the sticker price.

A happy couple is at a Cincinnati Chevy dealer discussing trade in value with a salesperson.

How Automotive Trading Works

Buying a new vehicle can be pricey, and getting rid of your old vehicle can be a hassle, so just do them both at the same time in order to make the process both more efficient and agreeable. Trading in a vehicle isn’t a difficult concept to understand on the surface. Basically, it’s just as it sounds; you are trading one vehicle in order to get a different one, but there is a bit more to it than that. Considering most vehicles you trade-in are older and less expensive, the process is actually about negotiating the value of the trade-in vehicle, and putting that towards the cost of the newer vehicle. Since you are buying and selling from the same place though, you will need to do a bit of searching to find the one that has both the vehicle you want and the best trade-in value.

Generally, the process will start with a detailed inspection of items such as the mileage, physical wear and tear, and official paperwork that states the vehicle’s history. This is how they will come up with a trade-in value estimation depending on the condition, how much needs to be fixed, and how well they think they can sell it at the time. You will then begin negotiations in order to get to an understanding of the final trade-in value. Since dealers want you to buy with them, and can always use more vehicles for the lot, they are often more generous with the trade-in value of a vehicle as long as you are purchasing from them. Think of it as getting more in-store credit than you would straight up cash if you return an item.

Overall the process is very simple and only requires an addition inspection of your old vehicle on top of the inspection of your new vehicle, but one of the things that could complicate the situation are any fees on the trade-in vehicle. It can make the process a little more unstable, but that is not to say it can’t be efficiently worked out if the dealer is willing to contact the lender and give you trade-in credit equal to what you have already paid for the vehicle. Just make sure you note that this means you are not getting the entire value of the old vehicle and that the one you buy will have a whole new loan you will be taking on in its place.

A red 2021 Chevy Trailblazer RS is shown from the front while parked in a Cincinnati alley.

Positives of Trading-in

  • It makes the process quick and simple as you remove one vehicle and swap it for another in the same breath
  • Dealers are more accepting or having to fix up issues as long as they are reported to them
  • You will save a lot on your new vehicle and already have a portion of the new payment paid off, which can lessen the overall interest payments
  • The trade-in valve could end up being more than you could possibly sell it for since they know it’s going to another vehicle of theirs

Negatives of Trading-in

  • You have to find a place with a vehicle you like that also has a fair trade-in value
  • The trade-in vehicle will always be the dealers now even if the new car falls through for whatever reason
  • You may end up being able to sell it for more on your own if you put on the charm

Trade-In Value Tips

You could teach a whole course on how to make sure you get the best trade-in valve possible, the information is just that vast, but here are just a few of the best tip to ensure you will go in with confidence:

Know Your Trade-in

This may sound obvious, but you will want to know everything there is to know about the vehicle you are trading. Do a self-inspection while physically noting everything you notice about its condition. The more you know about the vehicle, the better chance you have to defend it when trying to get the best trade-in value possible. This includes having all the proper documents and making sure all repairs and accidents are noted.

You can always value your trade here as well!

Do the Research Yourself

Sure they dealerships will be happy to give you their own trade-in valve, but unless you take it upon yourself to appraise the vehicle, you can never be sure if you are losing money on this negotiation or not. Honestly, with all the reliable and easy-to-access appraisal sites out there like Kelly Blue Book, there is literally no reason to not research the trade-in value yourself before going into a dealer. All you have to do is type in some basic information about the vehicle and your trade-in value will quickly appear for you to see. This research can also help remove some of the sentimental value which can hurt you during the negotiation. With this information you can go in confident and boost your chances of leaving satisfied.
Make the Vehicle more Presentable

Whether it’s giving it a deep clean or taking it to a local place to get the dents out, you will want to do everything you can make sure your trade-in vehicle looks as appealing and low maintenance as possible. Even the smallest adjustment can help raise its value, so be sure to make it shine for the sake of your trade-in value. That being said, don’t overdo it with repair since it can look shady and cost you unnecessary money.

Time the Trade-in Correctly

A young lady with the keys to her new car is shown with a salesman after getting a great trade in value for her old car.

Not many drivers are looking for convertibles in the winter, so you may want to think about when your vehicle will most be in demand. For example, maybe if you have an SUV you will try to sell it before school season for parents who carpool. Now most vehicles are year round, but always remember that how fast that vehicle can sell will impact your trade-in value.

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