You have finally decided that it’s time to get a new vehicle – but what are you meant to do with your old one? One of the easiest ways to swap your old car for a new one is trading it in at the dealership. This guide outlines what trading in your vehicle means and helps you better understand how to do just that.
When you trade in your vehicle for a new one, you are essentially selling it to the dealer. The amount of money that you receive from the dealership will then go towards the price of your new car, reducing the amount of money you will have to pay for it.
How Value is Determined
If you’re trading in your vehicle for a new one, then you should come prepared. While you don’t need to refurbish it to retail condition like you might have to do in a private sale, you should still make sure you take care of the following:
Bring the necessary paperwork: Be ready to provide all service records, appraiser paperwork that shows any repairs that were completed, and your title.
Consider a thorough cleaning: While you don’t have to make sure your old car’s as spic-and-span as you would if you were selling it privately, it’s important to still give a good first impression. Giving it a wipe down beforehand will show that you cared for it, giving you a leg up.
Know your car’s value: If you understand your trade-in car’s approximate value, you will better understand whether you’re getting a good deal or not.
Once you have brought your vehicle in to trade, someone in the dealership’s used car department will have a look over it, give it a test drive, and make an offer based on what they believe the car’s value to be. To determine the car’s value, they will look at the following characteristics:
Options and add-ons
Do you have more questions about trading in your vehicle? Call us here at O’Connor ChryslerDodgeJeep®Ram. We’re here to help you transition smoothly from your current leased vehicle to a new — or new-to-you — one.
O'Connor Dodge Chrysler Jeep RAM
45730 Hocking Ave Chilliwack, BC V2P 6J1