Get Your Money’s Worth: How to Get the Most for Your Trade-In
How to Get the Most for Your Trade-In
Many people are aware that when they purchase a new car, it loses value once it is driven off the lot.
But did you know that your car will continue to decrease the most throughout the first four years? Vehicles are a large investment, and if you want to get the highest amount for yours, there are a couple of tips you should follow.
Scroll down to find out more information on how to get the most for your trade-in vehicle!
1. Keep up on Maintenence
Getting oil changes and tire rotations regularly is an excellent way of getting the best trade-in value for your vehicle.
In the past, cars needed an oil change every 3,000 miles on average; however, with today’s new technologies, cars often don’t need an oil change until 5,000 miles or 8,000 KM. When getting any routine maintenance done, you should consider documenting all of the work you have put into your car.
Getting brakes checked frequently is also recommended if you want a higher value for your car, and it’s also beneficial for your safety.
2. Shop Around
One of the best tips on getting the highest value for your used car is to shop around.
Each car lot is looking to push different vehicles, and one store may be able to offer you a higher price. Don’t be afraid to talk with your salesman and let them know you are considering other options as well.
Shopping around also opens up the conversation to negotiate prices, which can help you get more money.
3. Avoid Flashy Colors
Red and bright blue cars may have a statistically higher chance of getting you more money, but oddly coloured cars car hinder your value.
When car shopping, you should consider getting standard colours that aren’t overly flashy and bright. Neutral colours such as blacks, whites, browns, and grays often have a higher trade-in value.
Although many people want to get a flashy car to stand out from the rest—let’s face it, they are just easier to locate in the parking lot, neutral colours are the best option.
4. Figure out How You Want to Sell It
One of the most important things you should consider when trying to trade in your vehicle is where you want to take it.
One way of selling your car is private. This would be done by putting it in the front yard or in a parking lot with a for sale sign, and the people interested would go directly to you. Trading it to the dealership is an excellent option if you are putting the money toward another vehicle. You also usually get a tax savings advantage of trading it into a dealership versus selling it privately as well
The last option you have is to simply sell it to a dealership; they purchase and sell thousands of vehicles and would be able to help you put a fair market value on your vehicle. Figuring out how you should sell it for is one of your first steps in the process.
5. Consider Cosmetics
If you are wondering how to get the most for your trade-in vehicle, one of the most important things to consider is the cosmetics.
Getting a car wash and waxing the vehicle are great ways to make your car appear in the best shape possible. Many people also put treatment on their tires and rims as well to prevent any damage and make the car look better.
Cosmetics are extremely important for trade-ins. You are more likely to get a higher offer for your car if it is in mint condition. Getting too carried away on cosmetics could have a negative effect though and raise flags that there is damage being hidden.
Take a look at our beginner’s guide on how to detail your car yourself and save some extra money!
6. Get Rid of Dents
Dents are a pain and are sure to appear on your car, no matter how hard you try and avoid them.
Getting rid of or trying your best to pull out any dents in your vehicle may increase the value. It is important to be careful if you try and fix the dents on your own. In some cases, it may become worse.
If the paint is damaged on the dented area, you may want to consider getting it fixed professionally at a Bodyshop in your area.
How to Get the Most for Your Trade-In Vehicle Through Upgrades
Sometimes keeping up with maintenance will help you get more for your trade-in, but did you know there are other ways to increase your car’s value?
If any parts of your car need repairs, getting them fixed can increase the value and make buyers more likely to sell. Other ways that you can possibly increase the value are by installing a newer sound system and getting new feet mats.
It is not necessary to spend a lot on putting new items into your vehicle, especially when you are trying to sell it, but these are things to consider even when you make new purchases.
Drive Away with a Pocket Full of Cash
Doing thorough research on how to get the most for your trade-in car is beneficial in the long run. It can also make you feel more satisfied knowing you got a good value for it.
Keeping up on routine maintenance, cleaning the car, sticking with neutral colours, and fixing dents are great ways to up your car’s value and are easy to do! It is important also to check the value of your car online to determine if the salesman is properly quoting you.
Don’t be afraid to negotiate prices and shop around while trying to trade in either.
Be sure to contact us if you need help purchasing or selling your next vehicle!