How to Increase Trade-In Value
Believe it or not, there are simple steps you can take to significantly increase the amount your trade-in is worth. It’s best to figure out what your vehicle is worth before you hit the car lots. Having knowledge of how much your trade-in will knock off a new car’s price can play a major role in your financial future. Here are a few factors that can increase your trade-in value.
Shop Around
The simplest and most obvious factor when valuing your trade-in is to see what different dealers will offer for your trade-in. If one dealer offers a good amount more than another, that’s something to take into consideration, even if you weren’t seriously considering a new car of that brand.
Keep Maintenance Records
Make a note, get a receipt, or have some kind of record every time your car gets any work done. Whether it’s routine service, a major repair, or replacing worn parts, showing the car has been taken care of can significantly affect the value of your car.
Clean Your Car
It’s something no one enjoys, but it has to be done. Cleaning your car, also known as detailing, can eliminate many of a dealer’s problem areas. Working out stains, getting rid of any smoke smell, and scraping away grime will leave you with a more presentable car. As a dealer doesn’t have to do so much work to prepare your car for sale, that could increase the value of your trade-in.
Negotiate Separately
Once you’re ready to get that new car, consider negotiating the transactions separately. Negotiate the new car price before working out the trade-in deal. If a dealer talks about the two as a package deal, it could hurt the value of your trade-in. Sell your trade-in outright if possible to avoid any confusion when it comes to hammering out the final deal.
