Auto Finance: Making The Most Of Your Trade-In

If you have ever had the pleasure of buying a new car in the past, you may be well aware of the disappointment that is often linked to trading in a vehicle. Many car buyers feel that their trade-in is worth far more than they got for it, so this aspect of the car buying process is often filled with resentment. As you prepare to trade in your next car, you may consider following a few tips to maximize the amount of money you get for your trade in.

Get It Inspected

Through dealerships, like Young Automotive Group, you can easily get the car inspected before you take it to the dealership for a trade-in. If your car is given a clean bill of health, you can take the corresponding paperwork from your mechanic to the dealership to ensure you get top dollar for the trade in. If work is needed on the car, you can make the decision about which repair items to tackle before you trade it in to get the best value possible.

Research the Value

You can use your choice of online car valuation websites to research the actual value of your used car. These sites typically have a resale value and a trade-in value. Dealers offer a lower trade-in value so that they can mark up the cost to the resale value later to make their profit on it. With this in mind, you may get a better deal when you sell your car on your own. However, if you choose to go through a dealership for a trade in, use your online research to avoid being cheated out of money.

Keep the Numbers Separated

Some dealerships try to work the numbers of the trade in and the new car purchase together. For example, they may say they can give you so much on your trade in if you pay so much for the new car. Avoid getting caught up in this situation, and hold firm that you want to work out the trade in numbers before you talk about buying the new car.

Get Multiple Offers

Finally, avoid jumping at the first offer you get. It can take time to shop around with various dealerships, but this ultimately could save you hundreds or even thousands of dollars. Identify at least three dealerships to get quotes from before you make a final buying decision, and let all three know that you need their best offer because you will be shopping around.

While it can be disappointing to learn what the true value of your trade in, you can minimize your resentment when you follow these steps. These steps will help you to get the most out of your trade in for your financial benefit.

Carsurfer Admin

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