Thinking of Trading Your Vehicle In?

There’s nothing better than that new car feeling. Before you drive your new ride off the lot, you often have to decide what to do with the vehicle in your driveway. You have two options when it comes to getting rid of a used car: selling it yourself or trading it in. There are pros and cons to each. A private party sale can net you a higher profit, but it also takes a lot more work. Trading in your vehicle to the dealer is fast and easy—but it will probably net you less cash.

How To Get The Best Trade-In Value For Your Car

• Know the value. Knowing your trade-in value will let you know if the dealer’s offer is fair.  • Shop around. Every dealer prices trade-ins differently. Experts recommend getting at least three estimates from competing dealers. • Debts make a difference. Owe more than your car’s worth? Expect that negative equity to get rolled into your next car loan and budget for it appropriately. • Prepare for the sale. A deep clean and a record of repairs can make your car more marketable, and possibly fetch you a higher trade-in price. • You’ll need to negotiate. Just because a dealer makes a trade-in offer doesn’t mean you have to accept it.

Car-Lotta reminds you that following these tips can help increase the value of your trade-in.