The timing isn’t always perfect when circumstance decides you need a new car. When I had to buy my new vehicle, it was because of a wreck, I had just graduated college, and I didn’t have a full-time job. Talk about stressful. But there is an answer to this problem for most people– the car you already have. Trading in your vehicle is a great way to get a nice lump sum for a down payment, which can get you a lower interest rate, saving you money in the long term. But you should always follow certain steps to ensure you get the most from your used car:
1. Research to know your car’s worth. Before you enter negotiations, you should always have your numbers handy. To get your price range, research similar vehicles to yours online. See what they are listed for at dealerships, what Kelley Blue Book says your car should be valued at and how much personal sellers are asking for them. That should paint a clear picture of what you can price your car at, and expect that price to be met, not ignored.
2. Look at the car like a dealership would. Rose-colored glasses are overrated. Don’t wear them when you’re looking at your trade in. Dealerships will look at a car and only see what they have to fix before they can put it on the lot. A rule of thumb is the faster they can put it on the lot and sell it, the more money you will get for your trade. That being the case, do everything you can to make your car shine and run well before you take it in to get appraised! I’m talking car wash, detail, fix a dent, change a headlight, anything you can fix. That small cash at the front end of a deal can get you big bucks from a dealership.
3. Keep your records, people! If you can prove that you have taken excellent car of your used car, dealerships will have no choice but to value your car more. Regular oil changes, tune ups, tire rotations, and any other scheduled maintenance that you can prove you have done regularly or recently will help you.
4. Make sure you time your trade right. This follows simple supply and demand. Don’t trade in a convertible in the winter when you could wait until summer and get more for that same car.
5. Use your power of will. Always remember you have the power in the trade situations. The dealership wants your business, but you can walk away from a deal. Don’t let go of your keys until you are happy with the price they are offering you.
I, and everyone else at Edmond Hyundai, truly hope these tips get you the most from your used car trade. If you are currently looking for the best place to trade in your vehicle, keep Edmond Hyundai in mind. We offer top dollar for trades, and are always on the look out for used cars. (Just be sure you check off this list before you bring in your car, truck or SUV!)
We hope to see you soon!
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Disclaimer last updated: May 19, 2023
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