If you plan to trade your vehicle when upgrading, you’ll want to get the maximum value. Increasing a car’s trade-in value requires a mix of upgrades, research, comparison shopping, careful presentation, and strategic maintenance.
By following these easy instructions, you’ll maximize your car’s appeal, increase its value, and put yourself in a better position to negotiate. Whether you want a family-friendly SUV or a luxury car, these tips from the team at Axio Automotive will help you get the most for your trade.
Research the Vehicle’s Value
When calculating the potential trade-in value of your vehicle, several factors go into the assessment. Begin by gathering basic information about the vehicle, including its brand, year, model, condition, and mileage. It seems elementary, but the data will help you accurately compare your vehicle to others on the market.
Use online platforms like NADA Guides, Edmunds, and Kelley Blue Book, which offer valuations based on features, location, desirability, and comparable sales. Checking online marketplaces, classified ads, and dealer listings will give you a ballpark figure for your trade, but it’s crucial to remember that your car’s condition and any repairs or modifications will affect its value. If you’d like a precise valuation, consult an automotive expert or an appraiser.
Fix It Up
Finding, addressing, and fixing a car’s mechanical issues will significantly increase its trade value. When a potential buyer—even one from a dealership—considers a used car purchase, they focus on functionality and reliability. By investing in maintenance and repairs, you’ll ensure the vehicle’s smooth operation while making buyers feel more confident.
A car with no mechanical issues has likely been well cared for and maintained properly, making it a better buy. Whether fixing a failing transmission, getting engine performance up to par, or eliminating electrical problems, resolving your car’s mechanical issues demonstrates your commitment to customer satisfaction and increases the value of the trade. If you need someone to do the repairs, let our service team help.
You Better Shop Around
Comparison shopping has a substantial effect on vehicle trade-in values. By researching and exploring different offers, buyers, and dealerships, you will gain important insights into the vehicle’s market value. A little knowledge is a powerful thing—and learning about your car will empower you to negotiate a better deal and get a higher price.
Furthermore, comparing offers from several buyers allows you to take advantage of the market, potentially raising the trade value. By comparing offers from several potential buyers, you will get the highest possible value for the vehicle, maximizing returns and making the sale process smoother.
Negotiate Trade Value
Time spent at the bargaining table greatly affects your ability to get a great price for your trade. By negotiating with potential buyers, you’ll demonstrate awareness of market conditions and show any upgrades or features that may make it more valuable.
Sellers who learn about their vehicles’ condition and market value find it easier to present their cases to buyers and dealerships, and they typically get more for their trades. Negotiations let you advocate for prices that accurately reflect your car’s value, giving you more money toward a new car or reducing the cost of the transaction.
Keep the Vehicle in Good Shape
Keeping your existing vehicle in operable condition is essential to its reliability, performance, and value. Regular care and maintenance, including tire rotations, brake inspections, fluid flushes, and oil changes, prevents mechanical issues and keeps your car running smoothly.
Car care doesn’t end with what’s under the hood. Keeping it clean inside and out, fixing dents and dings promptly, and saving service records significantly increases a vehicle’s resale value. Prospective buyers are more willing to pay good prices for cars and trucks that have been well maintained, and keeping your vehicle in good shape is a sensible investment.
Trade at the Right Time
Timing trades to get the highest value requires consideration, patience, and an awareness of certain factors. Learn about market conditions, monitor price fluctuations, and examine historical data to learn the best time to sell. Additionally, watch for product releases, updates, and industry events that may affect your vehicle’s value.
Consider trading immediately before the latest model goes up for sale, as previous model years’ values tend to decrease sharply afterward. By staying up to date and using your knowledge strategically, you will increase the chances of getting a high value for your trade.
Bonus Tip #1: Consider Sales Tax
While sales tax laws vary by location, most states only require sellers to pay the difference between the old car’s allowance and the new vehicle’s sale price. If you have a car with a $5000 trade value and are buying a new car costing $20,000, you will only pay sales tax on $15,000. Trading newer vehicles can be costly, as some states have sales taxes approaching 10%. This incentivizes many owners to trade over private sales.
Bonus Tip #2: Negotiate Trades and Purchases Separately
Here’s another tip: If you go to a dealership and tell the salesperson you’re looking for a new vehicle, don’t mention a trade until you’ve negotiated the sale price. With this strategy, you’ll get the lowest number on the new vehicle without your trade value factored in.
When you work with us, we won’t nickel and dime you. We’ll give you a great trade price upfront—and we’ll give you a fantastic price on a newer vehicle, too. With us, you don’t have to choose!
Get the Highest Price For Your Trade
Increasing your vehicle’s trade value isn’t hard, but it requires research, care, and effort. You can increase the car’s value at trade-in time by following simple tips on maintenance, repairs, cleaning, market research, negotiation, and service documentation.
While getting your car ready for a trade may take time and work, it’s a worthwhile endeavor. By putting in some time now, you’ll get more for your trade later and probably get a great deal on a new car, too. Visit us online to value your trade and see our inventory, call our sales department, or visit one of our eight nearby locations.
