- Trading your current car for a different one simply allows you to apply the value of your old car towards the purchase of the new one. Even though it is a simple concept, it is not always so simply done. Car dealers purposely offer you less for your current vehicle in order for them to make the best profit from it.
- In order to get the best trade in value for your current car, you should have it washed, waxed and have the interior detailed. A clean and shiny car appears to be one that has been taken care of, even if that is not the case. Have a mechanic look over your current car before you trade it in. Squeaky brakes, belts or broken windshield wipers should be repaired. A fine-tuned car will bring in a higher trade.
- When negotiating the price of the new car, consider not disclosing the fact that you will have a trade-in. You want to have the new vehicle price already established before deducting the value of a trade-in.
- It is a common misconception to believe that you will be at a better advantage if you sell your current car to an individual as opposed to the car dealer. While it is true that you would get more money for the vehicle by selling it yourself, you also have to deal with the hassle of selling it. By trading with the car dealer, you will escape the need for "for sale" ads, annoying phone calls and people wanting to test drive your vehicle.
- Often, throughout the year, car dealers will run promotional sales to attract buyers. It would be beneficial to you to take advantage of a sale offered by the dealer. It is possible for the car dealer to offer a generous flat fee for trade-ins.
- You will want to be familiar with the trade-in value of your vehicle prior to considering it for a trade. This can be determined by consulting guides such as the "Kelley Blue Book." For years, "Kelley Blue Book" has been the trusted resource for the buying and selling of used cars.
