The Pros and Cons of Doing a Trade-In

Bronx Vehicle Trade-In | New Rochelle Used Car Dealer

You are interested in buying a new preowned car, but you still have the old one. Should you sell it privately, or trade it in at the dealer as part of your new car purchase? Only you can decide what’s best for you, but let’s look at some of the pluses and minuses of using a trade-in when buying a new car.

new rochelle preowned car dealer

First, and perhaps most important, is what you expect to receive for your trade-in. This is not the time to guess, you need to do your homework. Two good sources of wholesale car prices, which is near the price dealers will offer you for your car, can be found at Kelly’s Blue Book and the National Automobile Dealers Association (NADA) Appraisal Guides. Both can be found in bookstores, many libraries, and some pricing information may be found on-line.

You need to be honest about the mileage and condition of your used car when determining trade-in pricing. A dealer will attempt to find any little problems your car has so they can lower the trade-in offer. You need to accentuate the positive, and certainly, don’t point out the negatives. However, never lie about mechanical or other issues when negotiating with your dealer. You can always remind them they can repair the problems at much lower cost than you can, so the defect may not be a major issue. Regardless of whether you trade-in a car or sell it on your own, you wouldn’t do it without having a good idea of what your car is worth. So, take the time now and have a good idea of its value.

Second, you should prepare your car before you get to the dealer. Remove all personal items, clean the car well, and perhaps even touch up minor paint defects if you know how to do it without making the problem more obvious. Clean the windows, and give your car a good vacuuming. Think of how you would want to see the car presented to you at the dealer’s lot; that’s how it should look when taking it for a trade-in appraisal. If you have repair records for the vehicle you should take them along; dealers may or may not be interested in seeing them.

Once you have received a trade-in offer from a dealer relative to a new purchase you are considering, think about the offer you have received. If it is very low, the dealer may be offering you less for the old car but will be discounting the new one further. If you receive an offer that is higher than expected, the dealer may not be willing to negotiate the price of the new car but is offering you more for the old one to compensate. It’s unlikely you will get an answer if you ask for their reasoning on the trade-in price, so once again having a good idea of market wholesale prices in your area will give you a benchmark for comparing the offer.

After all is done, you will have to decide whether to take the dealer trade-in offer. Having done your research ahead of time should make it an easier decision versus simply guessing if the offer is okay. At Yonkers Automall, we would be happy to appraise your used vehicle. Either bring it by, or you can fill out our appraisal request online and get an idea of its value. Then stop by and take a look at our extensive pre-owned inventory. Your next car may be waiting for you at our Bronx preowned car dealer, 1716 Park Ave. in Yonkers.

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Yonkers, NY 10710