Used car sales are at an all-time high. It means better deals for you and more money for your trading. Used cars are in demand, and people and dealers are willing to pay more. So when it comes time to get rid of their old cars, most people prefer to sell their old car rather than deal with selling it themselves.
Your car is worth exactly what the market will pay for it today.
Dealers look at why cars like theirs are being auctioned and how much the market pays for a car trade in. Your vehicle’s make, model, and color can also affect its value. If you fell in love with a light green sedan, it might not be your favorite resale color and make less money in the market because it is an undesirable color for most people. The exchange rate will be lower if you need a new windshield, tires, brakes, body work, upholstery repair, etc.
Look at your car as if you were about to buy it. Remember that the dealer will first inspect your vehicle from the outside. They will look at the paint and see if there is any chipped paint, hail damage, scratches, or dents. Then they look inside to see if it’s worn out and how clean it is.
If you have a service book and can show that you serviced the car while you had it, show it to the dealer. After you test the car, they will get an idea of the car and then offer you how much they think your car is worth. If they can see where they don’t have to spend a lot of money on repairs to get the car ready for sale, it can help you get more money when you turn in a new one.
Keep in mind that the used car price the dealer is offering you will be low because they are in the business of making a profit, and the price they are offering will have little if any, wiggle room. They may raise the price a little, but that’s usually all they can do. Don’t fall into thinking someone will pay you more for your deal as they believe it’s worth more. The price still depends on what the market pays.
Do your homework and research before you trade in your car to know what to expect. Used car trading doesn’t have to be a win-win deal. The chances are you can come up with a win-win situation that you and the dealer will be happy with.