Getting Ready to Trade Your Used Car for a New Car


Getting Ready to Trade Your Used Car for a New Car

Trading in your used car for a new one is quite a tedious task. The most apparent advantage of doing this is the reduction of the total expenditure on the brand-new vehicle. Here, your old car's value will be estimated, and this amount is deducted from the total cost of the new vehicle. Although this may seem straightforward, there are quite a few tips that you can follow to make the most of your trade-in value.

Estimate your trade-in value beforehand
Before you approach the dealership, it is advisable to calculate an estimate of the price you can get while trading in a used car. You can do this with the help of an online trade-in estimation calculator. Make sure that you are referencing different sources to be closest to the accurate figure. While using this estimator, ensure that you are giving in the right information and an accurate description of your automobile's condition.

Be prepared to approach the dealership
Once you have estimated the average price by yourself, you will need to contact a dealership and ask them about the trade-in value offered by them. The dealership will ask you about the condition of the car and other supplementary details to estimate a value. Some dealerships may even insist on a physical inspection before quoting a price. To be better prepared, you will need to gather up your vehicle's documents, title, auto loan details, and registration details. Your diver's license, as well as all the keys to the car, are essential too.

Pick the right offer
You can opt to visit more than one dealership to find a deal that is closest to the value you have estimated for your used model. The rule of thumb is to choose a deal that would require you to pay the least surplus amount.

If you find yourself being upside-down on your car loan, that is, owing more than the trade-in value, remember to pay off the difference in cash. Unless the amount is small, avoid bringing in negative equity on your loan. Lastly, you must remember to carefully analyze and research your options before making a final call. It is better to be safe than sorry when it comes to investing in a new

Source: Dodge