Vehicles are expensive. That might seem like a surprising statement to see a car dealership make, but we understand the realities that our customers face. A car, truck, or SUV represents a major purchase, which is why we work so hard to provide our customers with great prices and deals, and give you the highest level of customer service so you can make this purchase confidently. This is also why it is so important that you do everything you can to make your vehicle more affordable, including choosing a great dealership, getting the best terms possible on financing, and ensuring the highest trade-in value for your current vehicle.
No matter what kind of vehicle you have right now, it is a major asset for you, one that you can use to your advantage when shopping for your next car. Here at McCluskey Chevrolet, we love working with our customers and providing a great experience, which includes helping you figure out how to make your next vehicle as affordable as possible. We offer numerous tools here on our website to help you understand the value of your trade-in and to ensure you get the most for it. This is just one more way we deliver an unbeatable car-buying experience for all of our customers.
Considering what a significant purchase your next vehicle is and what a big part of your expenses it represents, anything you can do to help reduce the cost of your vehicle is an advantage. This is why your current car, if you can use it for a trade-in, is one of the most important assets you have when figuring out financing and budgeting for your next one. While you certainly do not want to trade in a car that you still need for your family, if you do have a vehicle to use as a trade, then it is important that you utilize it to get the best deal possible while shopping for your next vehicle.
To really illustrate what a difference this can make, let us take a look at a clear example of what a trade-in can mean for you. For the sake of this illustration, let us consider a vehicle that costs $40,000. We will say you have $5,000 for a down payment, and you need financing for the rest of the vehicle. You get a loan for the $35k difference with 7% interest on it, and that will be paid back in five years (60 months). With this information, you would have:
Now, let us look at this same situation, but you have a vehicle that you can trade in for $10,000. That amount is taken off the price of the vehicle. This reduces the amount you still need for a loan from $35k down to $25k. How does this impact financing? In this situation, you would have:
As you can see, having a vehicle to use as a trade-in reduced the monthly payments by about $200 and reduced the interest on the loan by almost $2,000. In other words, by having a trade-in, the total cost of the vehicle came down significantly, and the monthly payments on it were also a lot easier to manage. If you are on any kind of budget, then you know how important that sort of reduction in monthly expenses can be. This is why it is vital that you not only use a vehicle for a trade if you can but that you also get the best value for it.
Figuring out exactly what your vehicle is worth as a trade-in is not always easy. There are numerous factors to consider, including the age of your car, how many miles are on it, how well you have kept up with service and maintenance on it, and its overall condition. Some of these elements are pretty simple––you can look at the mileage on the odometer, note the year it was made, and figure out other things easily. Understanding its overall condition, however, can be a bit trickier, but we are here to help.
We offer a number of tools you can use right now on our website to help you evaluate what your vehicle is worth as a trade-in. If you are interested in selling your car rather than using it as a trade, then we can help you with that too. We constantly want to bring in new, used vehicles to offer our customers, and trade-ins/sales from customers are one of the best ways for us to do that.
It is important that you are honest about the condition of your vehicle when using any of our valuator tools, however, because that will impact the value of your trade. Once you are provided with an estimate or initial offer for your vehicle, then you simply bring it to us, and we will perform a quick inspection on it. As long as the information you provided is the same as what we find, then we will gladly honor any offer provided, and you can use that amount towards your trade or take it home as cash.
The single most important thing you can do to keep the value of your vehicle high for use as a trade-in is to properly service and maintain it. This means following the service schedule provided by the manufacturer and having the work done at a certified service location, plus keeping a log of when and how the work was done. Not only does this keep your car in great shape for you while you are driving it, but it also ensures the highest value for it as a trade-in. You should also have any repairs or other services done as needed, rather than ignoring a warning light or letting something go unfixed––it will only get worse.
Beyond this, you should be sure to clean your vehicle inside and out before bringing it to us for an inspection or for use as a trade-in. You want it to look as good as possible, but do not go overboard on extra repairs or new tires for your vehicle. We have our own shop, and it will cost less for us to have work done as needed or to put new tires on it than it will for you. This means that any extra value this might add will not be more than what you will have to spend; it would probably be less. So just keep your vehicle in great shape while you drive it, and give it a good clean inside and out before you bring it to us.
With so much to keep track of and consider while shopping for your next vehicle, it can be easy to have things fall through the cracks. Figuring out what your trade-in is worth and getting it prepared is not particularly difficult, but it can be one thing too many when you are already focused on your next vehicle and getting everything you need. To help with that, we have prepared a simple checklist that you can use to ensure your vehicle is ready:
Once you see it all together like that, you can see that the steps are pretty simple and you do not need too much to make your trade-in simple. If you have any paperwork or equipment for the vehicle that you are unsure you should bring with you, then just bring it along––it is better to have something you do not need then to be missing something crucial. Of course, if you are still unsure of the best way to handle your trade-in, then give us a call, and we will be happy to talk you through it and make the process as easy as possible.
We have talked a great deal about using your vehicle as a trade-in for your next car, but that is not the only option available to you when it comes to getting rid of a vehicle you do not need. Selling your car is an excellent option if you have a vehicle that you do not require and you want to get something for it. While it can be tempting to sell your car privately to another individual, this also opens you up to a huge list of potential scams. You have very little protection or peace of mind when making a sale to someone else, so you must be very careful when doing so.
When you bring your vehicle to us to sell it, however, then you have a long list of legal protections on your side because we are a licensed dealership and business. Beyond these regulations, it is also in our best interest to treat you well and give you a fair deal to ensure we maintain our reputation for honest business and excellent customer service. We have worked hard to build a name for ourselves here at McCluskey Chevrolet, and that is not something we are going to put on the line just to save a little money.
In most ways, getting ready to sell us your vehicle is very much like preparing to use your car as a trade-in, so you can follow all of the same tips here. The big difference, of course, is that you walk away with the money that we give you for your vehicle rather than taking it off the price of a new or used car that you are interested in. Otherwise, the process is much the same, so you can use our online tools to evaluate what your vehicle is worth, and you need to make sure you have the proper paperwork to sell it to us when you bring us your car.
Using your car as a trade-in works well for any type of vehicle you are interested in, and you have numerous options available to you. A brand-new vehicle is a favorite for many of our customers as it ensures you get a car in the best condition possible. With a new car, you get to enjoy the latest technology and features, particularly after a major update or the start of a new generation for a particular model. These tend to be the most expensive option, however, so they are not always ideal.
If your budget does not allow for a new car, then a used or pre-owned option could be a perfect choice so you can still get a great vehicle. It is important that you pick a dealership you know you can trust when shopping for a used car, however, to ensure they are in great shape and will treat you well for a long time. The uncertainty of not knowing what a previous driver did to a vehicle can be worrisome, so choosing a good dealership helps alleviate this.
A third option exists to give you the peace of mind you get with a new car at a lower price like a used vehicle: a Certified Pre-Owned (CPO) model. With a CPO vehicle, you are buying a model that was owned by someone else or driven on a lease, and that has to meet high standards set by the manufacturer. For example, every CPO Chevy must be less than six model years old, have fewer than 75,000 miles on it, and pass an extensive 172-point inspection. While these cars will cost a bit more than other used models, they come with two factory-backed warranties from Chevy, so you can drive them with confidence.
No matter how you plan on paying for your next vehicle, using a trade-in is beneficial for you since it will reduce the final cost of the new car. That being said, you do have several different options available to you as you are figuring out the right way to afford your next car, truck, or SUV. Deciding on which one is right can make a big difference when it comes to your future finances. For many people, using a loan to buy a car is the best way to get a vehicle, but for others, a lease is the ideal choice.
When you lease a vehicle, you do not actually buy it. Instead, you are paying to use the vehicle for an extended period of time without ever becoming its owner. It can be easy to think of leasing, like renting a car for several years and then returning it to the dealership. Leasing is a fantastic option if you want to experience everything a brand-new car can offer, but you do not care about owning it for a long time. Since you only pay for the depreciation that you are putting on a vehicle, you will typically pay a lot less each month while on a lease than you would while paying off a loan for the same car.
The biggest potential drawback with leasing a vehicle is that you are not actually buying it, so you do not end up owning the car. Other than this, the terms of a lease will also have limits on how many miles you can put on the vehicle, but you can add to this if you need more. If you are someone who likes to own a car, then a lease is probably not right for you. But if you like the idea of lower monthly payments, enjoying a new car every few years, and not worrying about long-term ownership, then a lease could be a great choice.
Here at McCluskey Chevrolet, we have built a reputation for providing our customers with the best service possible, including ensuring you get the highest value for any trade-in you have. We want to see you succeed, which means having you drive away in a new car you will love for many years, with payments that you can afford. Anything we can do to help you keep costs low and within your budget is a win for us, and providing you with the highest value possible for your trade-in benefits all of us. You can get started right now here on our website. We make things simple and straightforward, so you can start shopping for the next vehicle you will enjoy for many years. Check your trade-in value now or bring your car by the dealership and get a quote from our team; then, let us help find you the perfect new vehicle to put that trade-in value towards.
