Best Used Car Trade In Value

With so many things to keep in mind when buying a new car, one can lose sight of what you should do to make sure you get the best value for your trade in.

Your greatest advantage is to break this negotiating procedure into two parts. One of the first things the car dealer will ask you is "Will you be trading your vehicle in?" How you approach this is up to you. You could say, no I think I am going to give my car to my daughter for her birthday. If you would rather not misrepresent the truth you could just say you would like to concentrate on establishing a solid price for the new car you want to buy.

This purchase price needs to be in writing and signed by the dealership manager. Make sure any rebates are deducted at this point. Trading your vehicle should not be discussed until you have this number on paper. If you are going to drive onto a car lot to purchase a new car and trade in your used vehicle you should have done enough research to determine two things:
1- the best price available for the new vehicle you want to purchase and
2- the wholesale value of your car based on its "realistic" condition.

The dealers may pretend they aren't interested in your vehicle and act like they are doing you a favor by taking it off your hands. But used cars are the gravy that goes on the meat and potatoes of a new car dealer's balance sheet. This said, and depending on how close to dealer cost you set the purchase price of the new car, your trade in value goal should be in the area of the wholesale value of your vehicle, which you should already know.

Because you have already agreed to a price for the new car, hopefully as close to dealer cost as possible, the dealer will have less room to play with the price he offers you for your trade in. To keep your trade in value as high as possible, there are a few things you should do before you drive your vehicle smoothly onto the car lot.

It is time to kick your own tires before you take your used gem in for trade. Tires may be a good place to start. If your vehicle needs tires the dealer will have to replace them and that cost plus labor will probably come off that base wholesale price.

You should also make sure to thoroughly clean your vehicle, if you smoke get rid of that old smoke odor and make sure to bring along any records you have that show you took good care of your vehicle. Make sure you change the oil and give the car a lube job. Chipped windshields should be replaced. You should fix any major mechanical problems (don't overspend here, consider the value of your vehicle) and repair any major body damage. You might take a look at the car lots you are interested in dealing with and find one that doesn't have many used vehicles that are the same model as yours.

Make sure your agreed trade in value is written into your purchase contract as a credit against the purchase price.

If you just can't get the price you want for your trade in, you might want to sell your vehicle yourself and show up at the new car dealership with cash in hand.

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