Determining Trade-in Value
How Much Is My Car Worth?
Trading in a car can be stressful, but we’re here to help make the experience go as smoothly as possible. We’ve created a road map to help you understand how the trade-in process works, as well as give you a few tips to guarantee you’ll get the most money for your car.
When trying to figure out what a car is worth, there are a few key factors that all dealerships will look at. These include your car’s year, make and model, as well as its mileage, vehicle condition, options and trim level.
You’ll be able to get a general idea of what your car is worth by researching these factors. However, how much you can get for your car might depend on your game plan at the dealership. Here are a few steps to help you maximize your profit:
Step 1: Clean The Car
First impressions are important when it comes to maximizing your car’s value. But before you break out the car wax, this doesn’t mean you have to go get your trade-in detailed. We suggest that you simply throw out those old candy wrappers and grab a vacuum. A quick vacuuming and a fresh wipe-down can do wonders for your car’s appearance – and value!
Step 2: Bring Your Maintenance Records
When it comes to trading in your car, the more upfront you are, the better! Things like a Carfax Vehicle History Report and maintenance records are important to bring. Having maintenance records will add value to your trade-in.
Step 3: Get Your Car Appraised
There are a few ways to appraise your car’s trade-in value. You can go to a website like Edmunds.com and use their appraisal tool. Going online can be dangerous since you may think your trade-in is in a much better condition than it really is. You can also stop by a CarMax, or head to a dealership to find your car’s current market value. CarMax will thoroughly inspect your car and give you a written appraisal, which is good for up to a week. If you decide to take it to a dealership for an appraisal, here’s a tip: Take it to a dealership that isn’t the same brand as your car. That way there will be less competition and you’ll get more for your trade-in.
Step 4: Make It Happen
Deciding where you’re going to trade-in your car is important. You want to pick somewhere that you can trust. A reputable dealership will try to make trade-in deals that meet their needs as well as yours. When you’ve done your research and decided on where you’re going to take your trade-in: make it happen! And finally, no matter where you end up you should negotiate your trade-in separately from your new car purchase. Getting a finalized price on the new vehicle before negotiating the trade-in can help maximize your trade-in’s value.