Used Car Trade In Values Trade in Pricing For Cars
If you are thinking about trading in your vehicle then read on for some tips on how to get more more for your used car trade-in.
Before you head off
to your local
car
dealership with your
used car trade in the most important thing
that you need to take with you is a realistic trade-in value for your motor. Remember that car dealerships are in business for only one reason and that
is to make a profit from its customers. If you have got no idea what your
used
car trade in value is, then in all likelihood you will be offered
at least 10% less than your car's true
trade in value.
So How Much Is My Used Car Trade in Worth?
It is important to spend some time looking through used car pricing guides
and then to adjust the value of your
used car trade-in for mileage. However, at the end of the day your
used
car trade in is only worth as much as a car dealership is prepared to
pay for it. It is therefore up to you to try to get the best
used
car trade value as possible.
Get More Than One Valuation For Your Used Car Trade in
Don't take the word of just one used car dealership. You might be surprised to see
how the value of your
used car trade in can vary between different
dealerships. The time at which you
trade-inyour car may also have a significant impact
on the
trade in value that is offered. Whatever the
trade in value
offered by a car dealer you should aim to get at least 10% more.
Used Car Trade In Values - What Factors Affect This?
Generally for a used car that is less than eight years old the most important
factors that affect
trade-in value are: i) service history, ii) mileage
and, iii) condition of the bodywork. For cars that are older than this then a
good overall condition will help to obtain a better used
car trade-in value.
Prestigious used cars might have widely varying
trade-in values depending
on the options that the car has been fitted with. For example a Jaguar XJ with
a manual gearbox might not be so easy to trade-in for a fair price as used
Jaguar buyers generally demand an auto box. Also, the colour of the car can
have a significant impact on used car trade-in value. White prestigious cars may often
be associated with weddings and may have a lower
used car trade in value.
What Can I Do To Get More Money For My Used Car Trade In?
The most cost effective way of getting a better
used car trade-in value is
to present your car well. Simply giving both the exterior and interior a good
clean helps to give the impression that the car has been well looked after. If
you travel with pets in your car then be sure to remove any scents from the
vehicle. Cars that have odours may be devalued by much more than 10%. If you
are trading in an expensive/prestigious vehicle then the condition of the tires
and or alloy wheels can have an impact on the trade-in value. Kerbed alloy
wheels and/or unevenly worn tires can be an indication that wheel alignment has
been knocked out, or worse, that damage to the steering system has been caused.
It might prove cost effective to refurbish any kerbed alloy wheels and to
replace any unevenly worn or mismatched tires.
How Do Car Dealers Try To Reduce Trade In Values On A Used Car?
Remember that the car dealer's objective is to obtain your used car trade-in at a
minimum cost and maximum profit to the dealership. One way of closing you down
on haggling is to offer you a trade-in valuation from a so-called independent
source. The dealer's routine might go along the lines of: "I'll just go and
telephone three traders and get a valuation for your trade-in". When the dealer
gets back he will give you a minimum trade-in value (e.g. 6200) and a maximum
trade-in value (e.g. 6600). In all likelihood the dealer hasn't telephoned
anyone and has just looked up what your car is really worth using a trade-in
pricing book and then knocked 15% off the value. When this happens you should
try to add at least 10% onto the maximum value quoted by the car dealer.
Selling On To The Used Car Trade
If the car you are trading in is more than five years old the dealer may try to
undervalue your car by indicating that it will have to be sold on to another car
trader, the implication being that it is not of sufficient quality to sell on
their own forecourt. This may be true, but the fact remains that the dealer can
still make as much money (if not more) from your used car trade-in as he can
make from selling you a new car. Don't accept an offer for your used car
trade-in that is below book value.
Also see:
How To Negotiate Buying A Car.
Handling Used Car Trade Negative Pricing Points
Usually a car dealer will start off by making good minor comments about the
condition of your used car trade-in. "I can see that you have looked
after your car, it's got a good clean body". However, you can be sure that the
next comment may well go something like this: "Unfortunately the vehicle does
not have a good
Car
Fuel Economy, and as such would not be so easy to sell on".
When this happens you need to point out any desirable features about the car
such as air conditioning, alloy wheels, or its having a full service history.
This should help to put the pressure back onto the dealer and shows that you
are not going to accept below
book value for your
used car trade in.
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The most important thing that you must take with you to a
car dealership
is a realistic asking price for your used car trade-in
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