The second step in getting the most out of your used car trade-in is knowing its value. You are, in effect, selling your car to the dealership. Just like you would do if you were selling your car to an individual, learning the value of your used car is imperative. This allows you to have a general price a reference point from which you can conduct your negotiations and prevents you from unwittingly accepting a deliberately low offer from a dealer.
When determining your trade-in’s value, be sure to factor in features that may positively affect the price, such as air conditioning, sunroof, CD player/changer, power windows, etc. Remember to also consider conditions that may adversely affect the price such as high mileage, dull or chipped paint, rust, chipped or pitted glass, worn or stained upholstery and carpeting, worn suspension, poor alignment, etc. The most important thing when determining your trade-in’s value is to be honest and not allow sentimentality to cloud your judgment.
You also need to keep in mind you are determining trade-in value (wholesale value) not retail value. The trade-in value of a car is basically the amount someone who plans to resell the car will pay it. The best place to look up your trade-in’s value on line is at www.autosales.com and click the Black Book Appraise Your Trade for Free. These are only ballpark figures because it’s easy to overrate your car’s condition and so many other factors (such as local market conditions) determine what it is worth to the dealership.
Tony French
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