You’re finally in tip-top financial shape to buy another car, but there’s an issue: How do you get your existing set of wheels off your hands? You probably don’t have enough time to deal with the hassle of a private sale and have no desire to auction it off. There’s another option: Trade in your car! Trading in your car is an easier and more convenient way to sell your old ride while still buying a new one. Still, doing some bit of homework before making the swap can get you a fair, or even surprisingly, close-to-market-value price of your current vehicle. Keep reading to learn more ways to increase your car’s trade in value!
Key Takeaways:
- Your car’s trade in value can differ based on where you live and what’s popular in the area.
- Obviously, mechanical and cosmetic issues will make a terrible first impression. So, if your car has noticeable door dings, bumper dents, rust spots, or broken bulbs, make an effort to fix them, but more importantly, have an expert fix the mechanical issues.
- Ensure your car is clean. A good detailing job may cost about $50, but it can increase your car’s trade in value by several hundred dollars.
- Get multiple quotes and negotiate like a pro when trading in your car.
Research Your Car’s Value
The internet is one of the best resources when it’s time to trade in your car. You can determine your car’s value with tools such as Kelly Blue Book. Be sure to include all your vehicle’s unique features, like a premium audio system, navigation, and anti-theft system. Also, be honest with the vehicle’s condition. Keep in mind that researching your car’s value as if it were in perfect condition may not set realistic expectations if the hood is dented, the cloth has burn holes, or the check engine light is on.
It’s also recommended that you research dealership websites to see what cars like yours are selling for in your neighborhood. If the local market is oversaturated with a car model similar to yours, the dealership will likely offer you less than it would if the car were in high demand and challenging to find.
Fix Known Mechanical Issues
The physical and mechanical condition of your vehicle is a huge driver of its value. So, it’s in your best interest to resolve any problems that are relatively simple to fix. Typically, minor updates that don’t cost much money and are likely to boost the resale value of your car are worth considering. That might include minor cosmetic fixes, for instance, scratches and dents or replacing worn-out lights. Remember to keep the receipts for repair and maintenance, including your old receipts. These can prove to the buyer or dealer that you’ve been taking care of the car. Consider also pulling a car history report for your car for the dealer to review when evaluating your trade in.
Essential Note: Check the National Highway Traffic Safety Administration database for any vehicle recalls affecting your ride. Recalled parts are often fixed for free, and that extra effort can increase your car’s trade in value.
Pick Add Ons That Add Value
Automatic emergency braking and forward collision warning systems can help you avoid head-on collisions and accidents involving pedestrians. Keeping the driver and those around them alive is one of the most valuable upgrades anyone can have. Other safety features that can add value to your car include rear cross-traffic warnings, automatic high beams, and Bluetooth speakers for hands-free calling. These extras might seem expensive during purchase, but they can pay off when you start thinking about trading in your car. Note that you might not be able to completely stop a car from depreciating in value, but you can add value from the security and safety you gain from these add-ons.
Make it Shine with Car Detailing
It’s going to be much more challenging to retain your car’s value if you treat it like a dump. Ripped seats, coffee stains, and a musty cigarette smell will depreciate your vehicle’s value quickly. Keeping your car looking brand new will keep it valuable and increase its trade in value. So, ensure that you hit these marks when detailing your car:
- Wash the exterior of the car and finish with a wax
- Vacuum and wipe down the interior and clean the windows
- Keep the engine clean, clean the rims, and blacken the tires.
Pro Tip: If you get bird droppings on your car, always clean it off quickly. That’s because the acidity of the droppings can ruin your paint. Also, you can get your ride waxed to keep it shining before the trade-in.
Get Multiple Quotes and Negotiate Like a Pro
Trade in offers vary depending on what the dealership already has in the inventory, the car’s condition, and how well the dealership feels the car will sell. You may prevent some back-and-forth negotiating at one dealer by getting multiple trade-in quotes from different dealerships. Get one quote, and go to another and see if it beats what the first offered. Be sure to get all offers in writing.
Moreover, you may do excellent research and have your ride shining as new as the day you bought it, but if you don’t negotiate well, some salespersons might lowball you. Also, when negotiating, ensure that you let the dealership know what extra features your car has that can increase its value, including remote start or all-wheel drive.
Increase Your Car’s Trade In Value
Ensuring you secure the best trade in value can help you get a lower price and monthly payment on your next ride. It’s well worth it to research, fix mechanical issues, spruce up your car, and secure multiple quotes. For more information and to get the best car trade in values, visit our dealership or contact us today!
