For many people, purchasing a brand-new car means saying goodbye to their previous vehicle. If you prefer the convenience and practicality of trading in your car as opposed to selling it privately, this guide is for you. We will run through a number of tips and tricks on how to increase the trade in value of your car, as well as outlining the methods used by dealers to determine your offer.
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How to Work Out The Trade-In Value of Your Car
If you’re left wondering ‘how do you trade in your car for the best price’, the first step is to gain a rough idea of your car’s market value. To do that, there are a number of factors that any dealer will take into consideration when determining your car’s trade in price.
Vehicle age and mileage: One of the biggest determining factors in your car’s trade in value is its age and mileage. Newer vehicles tend to command a premium, while cars with higher mileage readings bring with them the wear and tear of that increased distance.
Market demand: From broad demand to microtrends for certain vehicles, the overall state of the car market has a large impact when you come to trade in your car. Whether it’s selling a sports car in the summer months or taking advantage of increased demand for your particular model, knowing the market can help boost your trade-in valuation.
Overall condition: Condition is a critical factor when it comes to car trade-ins. A vehicle that presents well both inside and out, and drives like a new car will often be worth thousands of dollars more than one that needs major paint, trim or mechanical repairs.
Documentation and history: Many car listings often include whether or not a car has a “full service history”. Essentially, this means that your vehicle’s service manual is both complete and up-to-date. Vehicles with this form of documentation are often worth more come trade-in time.
Rare features or tasteful modifications: If your car is painted in a rare colour, or has any desirable optional equipment, it could boost your trade-in price significantly. Modifications can also enhance a vehicle’s value, although these items are more subjective and open to the interpretation of a dealer or potential buyer.
How To Trade In My Car For The Best Price
Now that you know what dealers look for when appraising your vehicle, you can prepare to trade in your car for the best possible price. Below, we have listed some tips that you can use to help boost the trade in valuation provided by a dealer.
Clean and detail your car
A clean car signals that the owner looks after it and takes pride in its appearance. Clean your vehicle’s paint, wheels, interior and engine bay prior to the sale, or engage a professional detailing service to make it look its best. Often, the increased effort and expense is worth it when it comes time to trade in your car.
Take care of minor cosmetic and mechanical issues
While they can be part of normal wear and tear, cosmetic issues such as kerbed wheels and small paint chips detract from the appearance of your car. Consider having these inexpensive repairs carried out prior to trading in your car, increasing both its visual appeal and value. Similarly, any rectifying any mechanical issues that are easy fixes can earn you top dollar when you sell your car.Gather service and maintenance documents
Whether it’s routine service paperwork or more comprehensive repairs that you have had carried out on your car, a large collection of paperwork satisfies both dealers and their potential customers that your car has been maintained well. Keeping and providing a comprehensive service history can increase the offer provided to you when you trade in your car.Know your car’s selling points
While not everyone is an expert, it can pay to do your research when you come to trade in a car. Knowing what sets your car apart from the crowd, and providing this information to a dealer during their valuation can help boost your trade-in offer, even if it is only by a small amount.
Sell Your Car Easy With AutoFlip
When the time comes to trade in your car, knowing the factors used by dealers to value vehicles, and how to use these to boost your trade-in offer, are crucial. From knowing the market demand of your vehicle to preparation tips to make it look and drive as well as it can, AutoFlip’s comprehensive guide can help net you a competitive car trade-in offer no matter what you drive.
If you are considering selling your car, AutoFlip can help. We have a network of over 1000 trusted dealers who bid to buy your car for cash. Trust us when it comes time to trade in your car and see why AutoFlip is the quick, convenient choice of thousands of sellers.
