How To Fetch More Money From Your Car Trade In

by Clare Louise | January 10, 2018 6:00 am

Do you want to get rid of your current car and get a better model or make? Or perhaps you want to get a car that will accommodate your bigger family? You have two options for selling your car; you can either trade-in or sell to a private buyer. While selling your car to a private buyer is most likely to fetch you more money, sometimes it is not worth the effort and time. If you know a lot about cars and you have time to vet various buyers, go for test drives among other activities involved in selling a car you can consider selling your car to a private buyer. However, if you choose to trade in, you will enjoy some benefits such as reduced taxes, insurance cost, and registration fee. If you find that trade-in is the best option for you, here are some tips that will help you fetch more money from your used car.

Repair minor issues

When you visit your trusted dealer to trade in your car, he/she will value your car depending on its condition. Some scratches, old windscreen wipers or even a broken headlight can affect your car valuation[1]. The dealer will factor in all the costs of reconditioning your car no matter how small they are when valuing your car. You can increase your car value and fetch more hundreds of dollars by replacing that old mat or even replacing a damaged headlight.

Shop around before closing your deal

While you may be in a hurry to upgrade your current car to a better model, taking some time to shop around can help you get a great deal. While many dealers claim to have excellent trade-in programs you need to ensure that you go for the best such as the Southwest Motors trade-in program[2]. A good dealer usually has a wide range of options to choose from thus you have high chances of closing the best deal.

Shop at the right time

Have you ever wondered whether there is a great time to trade in your car? You may be surprised to hear that you are more likely to get better deals at months and even yearly quarters. Most dealers target increasing sales during these periods by offering discounts to get sales incentives from the respective manufacturers. Your dealer may give you a great deal to get that quarterly or monthly cash bonuses from the manufacturer.

Know your car

Knowing your car specs and how much it might be worth is a great way to find out whether the dealer is giving you a fair deal. For instance, Ford F-150 comes in several engine options which include 5.0-liter V8; 385 hp/387 lb-ft of torque and 3.5-liter V6; 283 hp/255 lb-ft of torque. It is therefore important that you have a clear mind on the option that suits your need. Also knowing the car specifications will give you an upper hand when negotiating since you will be able to weigh the price your dealer gives you.

While most individuals think that car trade in is waste of money, it also comes with its merit such as saving on the amount of money you spend on the car you buy. Dealers can also help you identify the true value of your car if you know little about cars.

  1. car valuation:
  2. Southwest Motors trade-in program:

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