What to Consider Before Trading in Your Vehicle
What to Consider Before Trading in Your Vehicle
Posted on April 8, 2020
If you’re purchasing a new vehicle, there’s a pretty good chance that you have an old one to trade-in. Many individuals looking to attain value for their vehicles approach the re-sale market through classified ad websites like Kijiji or Autotrader, but there may be a more lucrative option that many drivers are under-utilizing. Trading in your vehicle at a dealership to help you finance your car may be the best choice you will make. The following blog will detail some of the benefits of trading in your used vehicle to a dealership and how to improve your value when you do so:
The Benefits of Trading in Your Used Car to a Dealership
Convenience is a significant selling point for many buyer/sellers looking to find value for their old, unwanted vehicle. A dealership that accepts trade-ins is reading and willing to assess the condition of your car, van or truck and make a fair and reasonable offer. With a dealership trade-in, you can skip ‘test drive’ meetings with strangers, and there is no need to waste time actively advertising that your automobile is for sale. The best thing about trading your car in to a dealership is that you’ll never have to worry about a buyer backing out of an agreement out-of-the-blue.
Things to Consider Before Trading in Your Vehicle
Kilometres
The number of kilometres that your vehicle has racked up will impact the overall trade-in value that your car, truck or van will catch. Regardless of the condition of your vehicle, an odometer that reads a number surpassing 100,000 km’s may dissuade interest in your vehicle. If you plan on trading in an older automobile, try to trade it in before you reach 100,000 km to increase your chances of yielding an excellent return.
Appeal
The appeal of the vehicle that you plan to trade in will impact the value you get in return for it. Appeal is an interesting concept because all drivers have different needs and desires; however, aspects of specific vehicles make them more alluring to interested buyers. For example, if you were to trade in a Honda Civic or Toyota Corolla, you may get a more significant return on investment because it offers drivers Favourable fuel economy, safety ratings and a compact size.
Quality
You may not consider how important it is to routinely clean and detail your vehicle until the time comes to trade it in. If you trade in a vehicle with chipped paint, dents, other noticeable scuffs, and a rusted body, you will receive a significantly lower offer than you would if you repaired the damages. The interior of your car is also incredibly important to the overall value of your vehicle. If the floor mats, entertainment console, and dash are stained, the return on investment may end up being lower than you wished.
Buying a new or “newer” used vehicle is exciting. However, it can be pricy. Therefore, the return that your trade-in vehicle is critical to help you in your financial situation. Contact Auto List of Canada today for more information!