Car trades are among the easiest ways to finance a new vehicle while simultaneously getting rid of your old one. It is true that trades are not the most profitable option because you will rarely receive the full price of your vehicle as compared to a private sale. The reason for this is that car dealerships accepting trades will have to factor in the costs of revamping your vehicle for resale.
But, selling your existing vehicle may take a long time and will need a tremendous amount of paperwork to complete. If you need a new car right away and believe that your current one still has some value, a trade is by far the fastest, easiest way to purchase a new vehicle.
Appraising Your Vehicle
In the United States, some 48% of new car purchases are trades. American motorists simply find car trades more convenient than selling their cars privately.
According to Hudiburg Nissan, the first step to getting your vehicle traded is to have it appraised. Finding out the value of your vehicle can be tricky, but there are some ways for you to do so.
Researching online is one of the easiest ways. All you have to do is to type in your vehicle model and year, and you will get a general price range for its value. Some car dealerships already have tools available on their website that will show you the estimated value of your vehicle.
Getting a Second Opinion from an Expert
After researching the market value of your vehicle, ask the opinion of an expert. Usually, car dealerships will have a car appraiser available to give you the exact value of your car. An expert will factor in the mileage of your vehicle and see how much it will cost to have it spruced up. It is best to go to several dealerships just to get a more accurate average of the realistic price range of your vehicle. The value of your car is crucial to negotiating a good deal for a trade.