If you're looking for the best trade-in dealerships near me, you need to understand your car's trade-in value, receive multiple appraisals, negotiate the price, and finalize the deal.
Are you looking to buy a brand-new vehicle? But you might have an old vehicle that you still owe didn't finish paying off the loan.
To buy your favorite new vehicle, you need first to sell the old car and make sure that the buyer pays off whatever is left and then use the payment towards your brand-new vehicle.
To do so, you need to clean your vehicle, prepare it, put together all paperwork, advertise the car, reach out to potential buyers, and meet them in your private poverty before finalizing the deal.
The process sounds a little too much, and many people find it very complicated, especially inexperienced sellers.
The good news is that there is a good idea of trade-ins when a dealership buys your old vehicle and uses the money towards your brand-new vehicle. The process has some certain ways, and it's very important to understand how trading works and know exactly where to find the “best trade-in dealers near me.”
This article provides all you need to know about trade-inns and how to find the best trade-in dealerships that provide you with the best deals and get rid of your old vehicle fast and for the most money.
When should you not trade-in your car?
Before we dive into the details about how to find it best trade-in car dealership near you, it is very important to determine whether it's worth trading in your vehicle or not.
That's why there are certain situations where you are not recommended to train in your vehicle.
For example, if you just purchased your vehicle and decided to change it with a better one. You never recommended trading it in with the dealership because immediately after you walk away from the leadership, the vehicle's price drops by about 10 to 20%.
Another critical situation we are reducing not training your car is when you get a significantly low offer below the used car market. For example, if you notice that your vehicle's value is $6000 based on Kelley Blue Book instant cash offer, And leadership offered you only $1000, it is never recommended to trade-in your vehicle no matter what because you can make a better offer by selling it to a private buyer.
How does trade-in work?
The trade-in process is very simple, and you will approach a dealership and ask him to trade in your vehicle.
The first step for your dealership is to test drive your vehicle and provide you with an appraisal representing how much they're willing to pay you for this vehicle.
Once you agree with the dealership, they will subtract the value of your old car from the value of your brand-new vehicle and finance the rest.
For example, if you are trying to trade-in a 2012 Ford Focus to the dealership, the dealership decided to pay you $6000 for your old Ford Focus. Then, you decided to purchase a 2017 Ford Focus, which is worth $14,000. With that, once the dealership signs off your old vehicle's title, you will only find us $8000.
Can I trade-in my car if I still owe?
Yes, it is very common for dealerships to trade-in vehicles even if the owner's still on them. The process will be like how we explained it in the previous section.
For instance, if you still owe about $2000 on your old 2012 Ford Focus and the dealership is willing to pay you still $6000 for this vehicle, you need to finance $10,000 instead of getting your brand new 2017 Ford Focus. The dealership will subtract what you owe on the vehicle because they have to pay it for the lender before transferring the value towards your brand-new car.
How can I get the most money for my trade-in at a dealership?
Once you decide that it's the right decision for you to trade-in your car, the first question for you is, “how to find the best trade-in car dealerships near me?”
The nice thing about dealerships is that they are a convenient option for selling a car fast and worrying about all necessary paperwork.
Dealerships are great at taking care of all necessary paperwork. They understand the state's requirements and know exactly which paperwork must be prepared to finalize the deal safely.
Also, dealerships are considered one of the safest methods for selling used cars or trading compared to dealing with private buyers or strangers coming to your private property.
However, dealership salespeople are great at negotiating, and you will always receive a much lower offer than what your vehicle is worth. Thus, it is very important to understand the right method for trading in your vehicle to get the most money out of it, which includes the following steps:
Understand your vehicles trade-in value
Before you visit any dealership, it is recommended that you put a number in the back of your head. You need to understand how much your car worth is full.
To do so, you have multiple options. You can either visit Kelley Blue Book online tool that provides you with the minimum and maximum offer you should expect for your car.
However, Kelley Blue Book does not consider any major damages to your car. Thus, it is your job to subtract what you think is reasonable from the KBB value.
Another option is to try cash cars by or online tool to provide you with an instant offer representing the maximum money your vehicle can make around your area. The great thing about Cash Cars Buyer tool is that it is very fast, and it takes into consideration the condition of your vehicle.
In general, if you took good care of your vehicle and performed all necessary regular maintenance, your car should be considered “clean.”
Received multiple appraisals
The next step for you is to receive appraisals from multiple dealerships. That step requires some patience and a lot of care.
You can set up an appraisal appointment with a dealership close to your house. Some dealerships might provide you with free appraisals, where others might require some fees.
It is very important to be smart about which dealership is like because they offered that what they will provide depends heavily on several factors, including your vehicle's make, model, year, and condition. Sometimes it also depends on the current dealership's inventory of vehicles, and whether they were going to, so it's fast or not.
To prevent getting a lower offer from the dealership because of their inventory, you recommend that you sell your car to a dealership that does not carry your brand. For example, if you have a Toyota Camry, considered selling it to a dealership that carries Chevrolet vehicles.
This is because when selling your car to a dealership that doesn't carry brands similar to your car, you will have higher chances for the dealership to sell this car faster than another dealership that has seven other vehicles to compete with yours on their lot.
Get ready to negotiate the price
Price negotiation is the most critical step in trading in your car and getting the right offer for it. It is recommended that you visit the dealership towards the end of the month, where they are willing to pay you more for your car.
Also, it is important to have multiple offers and go with the dealership that is willing to pay you more for your vehicle while it has the other brand-new car of your interest.
A good tactic would be to let the dealership know that you are planning to buy a brand-new vehicle, and if they can improve the trade-in value, you willing to do business with them.
Lastly, it is recommended that you keep the brand-new vehicle and the trade-in value in negotiation processes separate. Remember, you are trade-in value will go directly towards your brand-new vehicle, and you want to have good focus and full conversation with the dealership to get the best trade-in value.
Common mistakes people make when trading in cars
If you're trying to find the best trade-in car dealers near you, you need to avoid the following common mistakes that people make whenever they trade-in a car:
Never attempt to repair the vehicle
Small vehicle repairs will not improve the overall trade-in value. The dealerships can do their fixing and fix any dents or install new tires. Thus, don't waste your time or money thinking that this will increase your offer.
Do not overestimate your car
Your vehicle thoughts you bought ten years ago and weren't in great condition are not the same today. Many people get attached to their vehicles and think that they are worth a lot, and they get surprised once they hear the offer from the dealership.
To avoid this situation, it is very important to be as honest as possible with yourself. You could either referred to Kelley Blue Book's value and get a rough estimate about how much to expect, or you can have a pre-selling inspection done by a professional mechanic who can be as open as possible with you by telling you how much is your vehicle worth.
Be upfront with the dealership
It is never recommended that you hide anything from the dealership. Whether your vehicle has measured problems or is involved in a car accident, dealerships will no old history of your car by simply pulling a history report.
Also, never try simple tactics like telling the dealership that you got a better offer from another dealership. That might work for an inexperienced dealer appraiser but, most dealership salesman is very good at knowing exactly whether you got a higher offer or not.
Do most dealerships take trade-ins?
Yes, that's usually the case. Dealerships even trade-in non-running vehicles or completely damaged cars depending on their type and the demand around their area.
However, dealerships do not provide the top offer, and it will usually be below the used markets. Thus, before making your final decision about trading in your car, see what other options you have in front of you for selling your old car.
What if the dealership did not accept my vehicle? Do I have other options?
If, for any reason, you thought that trading in your car is not the best option for you, you can always reach out to Cash Cars Buyer to sell your car.
Cash Cars Buyer guarantees to buy your car despite its type or condition. We pay you the top offers and provide you with free towing no matter where you're living around the United States.
Our process is very easy and doesn't take more than the following simple three steps:
Describe your car
We will need to gather some information about your car's make, model, year, and condition. We will also need to know whether your car has a title or not because this goes directly into the evaluation process.
Receive our instant offer
Once we get your vehicle's information, you will receive an instant offer that doesn't take more than a couple of seconds to be generated.
It is your turn now to review the offer and accept it if it makes sense to you. Once you accept the offer, we will move forward and schedule a pickup time and location to come and remove your car.
Get your vehicle removed and receive your payments
We will inspect your vehicle at the right pickup time and remove it safely and hand you the cash payment immediately on the spot. If you don't have a title, ask you to show us paperwork proving ownership like your photo ID and valid car registration.