Used automobiles continue to remain popular throughout the United States. By 20201, IHS Markit research predicts that over 20 million automobiles on the road will be over 25 years old. It’s understandable that many people will not be able to outright purchase another vehicle, whether it’s new or used. Considering that, many used car dealerships accept trade in vehicles. These are vehicles that owners trade to a dealership in exchange for cost savings. However, there are factors determining how much you’ll receive for a traded vehicle. Considering that, here are five helpful tips for getting the most value out of your trade in.
- Regular Maintenance Matters
One of the first thoughts drivers have is whether or not to take their trade in to a mechanic. It’s understandable to avoid turning in a vehicle that’s in desperate need of new auto parts. However, taking your vehicle to a mechanic isn’t going to make up for a lifetime of neglect. Many automobile dealerships will be able to tell whether a potential trade has been properly cared for. Therefore, vehicles receiving regular maintenance and new auto parts tend to command higher values that automobiles that haven’t been cared for. - Clean Your Vehicle Thoroughly
First impressions are extremely important throughout life. With that in mind, it’s important that your vehicle makes a positive impression. Therefore, another important aspect of obtaining a higher trading value comes down to the cleanliness of your vehicle. While it might take a bit of time and effort, it’s worth thoroughly cleaning your vehicle before bringing it to a dealership. Understandably, it’s rare for a trade in vehicle to be spotless. Considering that, don’t worry about a few stubborn spots that won’t come out. However, you’re likely to receive more for this vehicle if it’s relatively clean. If you don’t have the time for this task, consider taking your vehicle to an auto detailing facility. - Keep Track of Your Receipts
Statistics show that the average vehicle will have three owners throughout its lifetime. While owning your vehicle, it will probably be taken in for tune ups and other important repairs. After working on your vehicle, a repair shop should send you home with some type of receipt. Unfortunately, many drivers throw these receipts away almost instantly. Instead, you’ll want to do your best to hold onto each of these receipts. Whether it’s for new auto parts or a simple oil change, it’s always wise to keep details of these transactions. When it’s time to trade in your vehicle, you’ll be able to present accurate maintenance records to a dealer. In turn, this works well for increasing the value of your traded in vehicle. - Have an Idea of Your Vehicle’s Worth
You’ve probably spent lots of time looking at vehicle costs. After all, it’s understandable to want to find a used vehicle price that works for you. However, it’s also important to learn what about the value of your trade in. This helps to ensure you have an understanding of your vehicle’s value. - Not Every Vehicle Receives Top Dollar Trade Values
It’s important to know that vehicle trade in values are estimates. In addition, used vehicles are brought to dealerships in various conditions. For instance, imagine that you’re accepting a vehicle that has a value of $4,000 in excellent condition. Unfortunately, this vehicle has a lot of stains and hasn’t been taken to a mechanic in years. These factors downgrade the value of this car from excellent to good. Therefore, this vehicle will obtain a lower trade in value than a clean and well maintained automobile.
In conclusion, it’s important to know how to get the most out of your trade in. Before trading in your vehicle, it’s wise to keep it properly maintained and cleaned. Replacing a few key auto parts could greatly increase your vehicle’s value. Statistics show that nearly 40 million used cars exchange owners annually. Trading in your vehicle could be the next step to owning the automobile of your dreams.