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What is Trade-In?
How does the Trade-in-Value.com used car trade-in process work?
We take several extra steps in order to ensure a fair trade-in value for your vehicles. Initially, we ask you to complete an on-line vehicle evaluation form. This form helps us match you with a car dealer that can provide you the replacement car you are interested in and also provide them information about your existing used car. By identifying an interested car dealer, you are able to arrange a trade in inspection and appraisal for your used car at the dealership that is handling your new car purchase. Of course, the actual condition of the used car has a tremendous impact on its value but if the original car dealership does not want to accept your trade-in or offers a price that seems unrealistic, you are under no obligation to trade-in your used car. If you are still dissatisfied with the appraised value of your trade-in or want to try selling it yourself, you will almost always receive a higher used car value selling your vehicle individually. The downside of selling your used car by yourself is that you can not predict when it will sell making it difficult to apply the proceeds of the sale towards the purchase of your new vehicle at the time of your new car purchase. These used car trade-in steps are designed by us to assist you in making the process hassle free, and also help you get a fair used car value for your current vehicle.
Get My Free Trade-in Quote.
How are used car trade-in values determined?
Each used car, truck, and SUV is unique. This individuality is what makes used car value appraisal an inexact science. Tools such as Kelly Blue Book, N.A.D.A., and Black Book serve as guides to car dealers to help them appraise the used car. These guides provide a starting point to assess the vehicle. Ultimately, the vehicle's physical and mechanical condition, local market conditions, potential reconditioning costs, auction results, the dealership's own assessment, and wholesale guides provide the most accurate and realistic assessment of a used car's value.
Get My Free Trade-in Quote.
How do market conditions affect the used car trade-in value?
There are several different market conditions that can dramatically affect the used car value. These include: manufacturer incentives, local preferences, and vehicle availability. Manufacturer incentives on a specific new car may drive down the trade in value of the corresponding used car. For example, if Ford is offering a $1,500 rebate on a new Explorer, then the trade in value of a used Ford Explorer could drop by a similar amount. This formula is applicable for discounted financing, special leases, or manufacturer to dealer incentives. Since the new vehicle is now more affordable, there must be a significantly lower price to attract buyers to the same used car. Additionally, the wholesale value as represented in Kelley Blue Book may not reflect these incentives, thus a car dealer would most likely deduct the value of the incentive from the printed value before beginning a trade-in appraisal. The preferences of a local market may also affect the value of a trade-in car. Vehicle availability can also impact the used car value. If a vehicle is readily available at local auctions, the demand for the same vehicle as a trade-in would be lessened as would its value. Conversely, hard to find and hot selling used cars can bring very strong bids from car dealerships.
Get My Free Trade-in Quote.
What is the difference between wholesale / trade-in and retail value?
Then wholesale value is the amount that a car dealership will pay for a used car. Retail value is the price that they hope to sell or trade-in the same car, which of course would be a higher price. They are also referred to as "low book" and "high book", or "rough" and "clean". Get My Free Trade-in Quote.
I have an older car with high mileage. What can I expect?
Older cars, or used cars with mileage over 100,000, are often difficult for car dealers to accept in trade. Reconditioning expenses can make those used cars cost prohibitive for a dealer to sell on their lot, and generally they will sell that car to a local wholesaler at a steep discount relative to wholesale guide. These types of used cars generally bring the highest value when sold individually.
Get My Free Trade-in Quote.
What can I do to increase the value of my used car trade-in to a dealership?
There are several small steps that you can take to help ensure that you get fair value for your trade. Foremost, be sure to know what your used car is approximately worth. Additionally, before you take your vehicle to the car dealership for appraisal, make sure your car is clean, both outside and inside. Appearances definitely matter. Furthermore, bring all service records, and your current registration and the title to the used car. If you do not yet have the title, bring the lien holder information, as well as an accurate loan pay-off amount. This information makes it easier for a car dealership to quickly complete the transaction. If you have any current mechanical problems or dents and such, you will want to compare the costs of fixing these problems with the reduction in used car trade-in value. Often it is worthwhile to repair any problems.
Get My Free Trade-in Quote.
How does the Trade-in-Value.com used car trade-in process work?
We take several extra steps in order to ensure a fair trade-in value for your vehicles. Initially, we ask you to complete an on-line vehicle evaluation form. This form helps us match you with a car dealer that can provide you the replacement car you are interested in and also provide them information about your existing used car. By identifying an interested car dealer, you are able to arrange a trade in inspection and appraisal for your used car at the dealership that is handling your new car purchase. Of course, the actual condition of the used car has a tremendous impact on its value but if the original car dealership does not want to accept your trade-in or offers a price that seems unrealistic, you are under no obligation to trade-in your used car. If you are still dissatisfied with the appraised value of your trade-in or want to try selling it yourself, you will almost always receive a higher used car value selling your vehicle individually. The downside of selling your used car by yourself is that you can not predict when it will sell making it difficult to apply the proceeds of the sale towards the purchase of your new vehicle at the time of your new car purchase. These used car trade-in steps are designed by us to assist you in making the process hassle free, and also help you get a fair used car value for your current vehicle.
Get My Free Trade-in Quote.
How are used car trade-in values determined?
Each used car, truck, and SUV is unique. This individuality is what makes used car value appraisal an inexact science. Tools such as Kelly Blue Book, N.A.D.A., and Black Book serve as guides to car dealers to help them appraise the used car. These guides provide a starting point to assess the vehicle. Ultimately, the vehicle's physical and mechanical condition, local market conditions, potential reconditioning costs, auction results, the dealership's own assessment, and wholesale guides provide the most accurate and realistic assessment of a used car's value.
Get My Free Trade-in Quote.
How do market conditions affect the used car trade-in value?
There are several different market conditions that can dramatically affect the used car value. These include: manufacturer incentives, local preferences, and vehicle availability. Manufacturer incentives on a specific new car may drive down the trade in value of the corresponding used car. For example, if Ford is offering a $1,500 rebate on a new Explorer, then the trade in value of a used Ford Explorer could drop by a similar amount. This formula is applicable for discounted financing, special leases, or manufacturer to dealer incentives. Since the new vehicle is now more affordable, there must be a significantly lower price to attract buyers to the same used car. Additionally, the wholesale value as represented in Kelley Blue Book may not reflect these incentives, thus a car dealer would most likely deduct the value of the incentive from the printed value before beginning a trade-in appraisal. The preferences of a local market may also affect the value of a trade-in car. Vehicle availability can also impact the used car value. If a vehicle is readily available at local auctions, the demand for the same vehicle as a trade-in would be lessened as would its value. Conversely, hard to find and hot selling used cars can bring very strong bids from car dealerships.
Get My Free Trade-in Quote.
What is the difference between wholesale / trade-in and retail value?
Then wholesale value is the amount that a car dealership will pay for a used car. Retail value is the price that they hope to sell or trade-in the same car, which of course would be a higher price. They are also referred to as "low book" and "high book", or "rough" and "clean". Get My Free Trade-in Quote.
I have an older car with high mileage. What can I expect?
Older cars, or used cars with mileage over 100,000, are often difficult for car dealers to accept in trade. Reconditioning expenses can make those used cars cost prohibitive for a dealer to sell on their lot, and generally they will sell that car to a local wholesaler at a steep discount relative to wholesale guide. These types of used cars generally bring the highest value when sold individually.
Get My Free Trade-in Quote.
What can I do to increase the value of my used car trade-in to a dealership?
There are several small steps that you can take to help ensure that you get fair value for your trade. Foremost, be sure to know what your used car is approximately worth. Additionally, before you take your vehicle to the car dealership for appraisal, make sure your car is clean, both outside and inside. Appearances definitely matter. Furthermore, bring all service records, and your current registration and the title to the used car. If you do not yet have the title, bring the lien holder information, as well as an accurate loan pay-off amount. This information makes it easier for a car dealership to quickly complete the transaction. If you have any current mechanical problems or dents and such, you will want to compare the costs of fixing these problems with the reduction in used car trade-in value. Often it is worthwhile to repair any problems.
Get My Free Trade-in Quote.
