Fair Trade – 5 Things to Know if You Plan to Trade Your Car In

So you’re ready to trade your car in, and hoping to get a great deal? Well, if you don’t know a lot about cars (and even if you do) there are a few things you need to make sure you’re aware of before you walk into the dealership. If you’re not prepared from the beginning, you could get swindled and end up in a worse position than if you had just kept your old car. Preparation is the best tool when it comes to trading your car in, so consider these five tips before you go to the dealership.

Find out the Bluebook Value

Before you start negotiating, find the value of your vehicle. A Kelly bluebook bases the value of your car on the same make, model and year car in the marketplace and it’s the price you can expect to get from a dealer. This way, you will know if the dealer is being straightforward with you about the price when you go to trade it in. Unfortunately, many dealers know that the customer doesn’t really have a good idea of the price of their car, which allows them to swindle you out of a deal quickly. If they mention a price that is different than the price you got from Kelly Bluebook, make sure you ask where they are getting their information from and what that price is based on.

There are Many Types of Cars

What kind of vehicle do you want to buy? Look carefully at your lifestyle, work life and the types of vehicles available. A well-researched decision is one you can live with longer than a poorly researched decision. There are many types of vehicles manufactured: SUVs, sedans, wagons, minivans, hybrids, convertibles, luxury cars, crossovers, hatchbacks and more. Trading your car in could be a great time to make a change in type of car, especially if you are expecting a change in your lifestyle. Many expecting parents will come and trade their cars in for another car with better safety features. Evaluate how satisfied you have been with your car type and consider making a change—if the new car will fit your lifestyle and needs.

Find an Invoice Price

Find out the price you should pay for a particular year, make or model when it comes to the new car. Google the make and model car and add “invoice price” and the year. At places like Edmonds.com or True Car, you’ll get an invoice price, the price everybody else is paying and the MSRP, the Manufacturer’s suggested retail price. According to the auto professionals at a Dallas used cars dealership, you should get the invoice from multiple sites to really get a good idea of the price. Chances are you will find different prices on different sites, but by gathering several invoices you can find an average price depending on the make, model, and year of the car. So, make sure you check out more than one site.

Build a Car Online

Build a car online before ever discussing things with a dealer. It is a bad idea to go online and trade your car in, but doing everything else online except makes sense. This isn’t so much about researching online as it is about the following warning: The test drive is so important, you simply cannot order a car online. You must test-drive it. You could be in for a surprise if you don’t test drive a car before purchase.

Find a Good Dealer

Check out customer reviews. Our advice to you is that a good car dealer offers more than a car. They offer warranties, financing and a variety of vehicles. Some things a dealer offers are not worth the money, like extended warranties. They also add fees to the price after you have worked it out, so get a final price and a guaranty of no added fees.

The most important thing to remember when you are getting ready to trade your car in is that you don’t want to be naive. Unfortunately, at many dealerships, you can’t just take the dealer’s word for it, and some dealers will keep you from getting a deal if you aren’t careful and educated. Do the proper research before you go into the dealer and you will be able to get a fair trade.