If you’re in the market for a replacement vehicle, odds are that you are considering trading in the car you currently have. Trading your car in can be a great option for disposing of a vehicle that you no longer need. It can save you all the hassle of selling the car yourself. But how can you get the best deal for your well looked after car? Here we have put together tips to maximise your cars value.
Prepare Your Car for Sale
Are there any little things that need to be fixed on the car, but you’ve been putting it off? Maybe that parking light that blew six months ago, what do you need those for anyway? Now would be the time to fix them, something as simple as that can show a dealer that the car has not been looked after in the best manner. It’s best to fix anything minor issues before taking it in, as any little defect they find will reduce the amount you get offered, because the dealer will need to pay someone to fix it.
Find out your Cars Worth
Understanding the current worth of your car would be a good starter. You can search online sales of vehicles in your area to get a feel of the value of your car. While you may not be able to find an exact match, you should be able to find enough vehicles of similar age, quality and kilometres driven to give you a rough estimate of the value.
In near future, you will be able to find out your car’s value on Carify.
Remember that a dealer will not give you the exact sales value of your car. As a general rule a dealer will offer about 50% of the final sales figure. Therefore, don’t expect a dealer to offer much more than that, but if they are offering a lot lower, you could ask their reasoning or walk away from the deal.
What Finance Do You Currently Owe?
Does your car have any finance owing on it? If it does, the dealer will take this into consideration as the lien will need to be paid out in order for them to sell it. Before going into the trade-in negotiations, you should talk with your financial provider to get as final payout figure. Depending on your contract, the payout figure may be more than what is currently owing, as an early payout could attract fees and other charges.
If the dealers discover that the vehicle has money owing and you have not told them, it may render any trade-in deal null and void. If you’re not 100% sure, you can complete a Carify check so you can be positive that there is no money left owning on the vehicle.
Shop Around for the Best Deal
Many dealers currently offer online trad-in appraisals. That is, they can show you what trade-in the car may attract when before a physical inspection. Although you need to take the offer with a grain of salt, it can be a good starting point in finding the best deal.
Often dealers have a list of people that are looking for a certain used car and if yours fits the bill they may be willing to offer you more as they know they can sell the car quickly. This translates to a higher offer from them for your car.
Negotiate a Better Deal
It’s an old saying but one that is often completely true, never take the first offer! You may not be used the haggling for a price, but you’ll find that whatever the dealer offers first is some distance from what they’ll actually pay.
If you feel that you’re not a good negotiator, ask around and see if one of your friends has experience or is willing to do it for you. Some people really enjoy the challenge of getting the most out of a deal.
The Best of Luck.
A trade-in is just but one step on the way to securing a new vehicle. But it can be a good start to getting you through this journey. Knowing what sort of trade-in, you can expect for your car can assist you in finding its replacement. You never know, you might be surprised at what you can get for your car.