The 3 Things To Do To Improve Your Car’s Trade-In Value

Filed under: Classic News |

When you are ready for a new car and looking to get car financing in Edmonton, then you want to make sure that you keep that number as low as possible. Having a big down payment for the new car is one way to do this. Another good way to lower your premium is to get the most for your old car when you trade it in.

It may seem like the car dealer is going to have a hard number that they are willing to give you and won’t deviate from it. After all, they want to get more from you and not less. However, there are often ways to make sure that that number is as high as possible so you can get the most for it. In this article, we will go over several ways that you can improve the value that you get for your trade-in.

1 - Do your research

When you arrive at the dealer’s lot, you should understand exactly what your car is worth as a trade-in. There should be an evaluation done to understand the condition of your car as that will determine how much it is actually worth.

You can find sites online that will give you an idea of what the make, model, and year of your car is. However, the figures you read will also depend on if your car is in excellent, good, or poor condition.

Expect to get less than the trade-in worth of the car, but knowing how much to ask for will be a good starting point for negotiations.

2 - Give it an upgrade

You will want to make sure that the car is in as good condition as it can be when you are trading in. This means that you should make some modifications and repairs to ensure that you get the most for it. All while trying to make sure that you aren’t spending too much money that won’t come back to you when you do trade it in.

Have it detailed so it looks as new as possible. Do things like fixing any cosmetic issues that will make it look run down. And if it has mechanical issues like faulty brakes or something else that makes it obvious that it will cost the dealer money to fix themselves, then make sure to repair them ahead of time.

3 - Negotiate just the trade-in

The negotiation for the trade-in should be separate from the one to get the right price for the car that you are buying. Often, dealers will make it look like you are getting a great deal based on their willingness to drop the price of the car combined with what you are getting for your trade-in.

This is why you should start with negotiating the value of the trade-in before you try to get the best price for the new car that you are buying. This way you can shop around for the dealer that will give you the most for it and buy the new car there.