Want to trade-in your used
car but don't know which way to go? You're not alone! A lot of used car
owners wrestle with this when it's time to sell their
old car and buy a new one. First,
let's start with the basics. What's a Car Trade-in?
When you sell
your car to an auto dealer and buy another one from them, that's a trade-in.
Knowing the secrets will help you down the raod if you choose to trade-in your
used car, instead of selling it yourself. Although
it's convenient, the downside of selling your car
through trade-in is that, dealers rarely give you a trade-in value close to
the value of your car. They usually offer you about half your car's worth in
trade-in value. The truth is,
you may get more money for your car by placing a for
sale by owner ad ("FSBO"). Selling your car yourself also gives
you some control of the process. If
you decide to trade-in your used car, here are some handy tips:
- Never reveal your intention to trade-in a used car to a dealer.
- Negotiate and settle on a price for the car you're buying first. first.Then,
tell them you want to do a trade-in. You may get a better deal this way.
- Find out your used car's Wholesale and Retail value before you go to a
car dealer. Dealers give wholesale values for car trade-ins, after deducting
the cost of reconditioning them. Knowing these values in advance should
help you in your negotiations, since you will know what your car is worth.
And hopefully, put more money in your pocket.
- Some dealers may create a "charge-back" to you somewhere in
your purchase contract without you knowing it. Check and have them remove
it, if it's in your purchase contract.
- Avoid used "Car Trade-In Allowances".
Used car dealers give
Trade-in allowances to sellers who they perceive to be trying to get the
most value for their used car at trade-in. A car dealer may include this
charge in your purchase price, to balance out extra money he would’ve
made had you not negotiated heavily. They may also not give you any discount
off the sticker price, even if you deserve it.
- Read and understand your entire purchase contract before you sign it.
You can avoid problems at the car dealer's lot doing so.
When
it's time to sell your used car,
you can always sell it on AutoCrisis.com. It's
FREE, Fast and Easy! ©
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