When you decide to buy a new car, you have a few options for your old one. You can keep it, sell it, or trade it in. Deciding between selling your car privately or trading it in at the dealership can be tough, but trading in is usually the easier option. You’ll want to make sure you get the most out of your trade-in so you can apply it to the down payment for your new car and potentially lower your monthly payments. Here are three ways to maximize your vehicle’s trade-in value.
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Take Care of Your Car
Taking care of your car is the simplest way to maintain its value. As you drive, make sure you’re easy on the vehicle when braking, shifting, and even opening and closing the doors. Any vehicle is going to have some wear and tear over time, but a car that’s in better shape is going to have better value.
Regular cleaning and maintenance are important aspects of caring for your car. Driving around with a filthy car isn’t just about looks, it’s not good for the vehicle’s exterior. Salt and dirt can build up over time, especially in the undercarriage, and cause rust and corrosion to occur.
If you see a warning light or maintenance reminder alert, take care of it as soon as you can. Keep up with regular oil and filter changes, tire rotations, brake checks, and alignments. Not only will the dealership see a stellar maintenance record, but they’ll likely see a car in good shape with strong value.
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Keep Good Maintenance Records
In order to impress the dealership with your consistent maintenance, you’ll need to keep track of it. Create a file folder on your computer or in your house and keep receipts from all of your maintenance appointments and repairs. If you handle a lot of maintenance and repairs yourself, you should keep track of those as well. Keeping the receipts from the parts purchased for your at-home repairs is an easy way to keep track.
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Find Your Trade-In Value Online
It’s always a good idea to do some research before heading into the dealership to shop for or trade in a vehicle. Online resources like Kelley Blue Book make it easy to figure out how much your car is worth. You’ll need to answer some questions about the car, and then you’ll get a trade-in value and a fair market value. The trade-in is what you’ll likely get at a dealership, and the fair market value is what you might be able to get when selling the car on your own.
This can be tricky because your numbers are only going to be as accurate as the information you provide. Make sure you’re honest as you answer the online questions, or you might get surprised when the dealership offers you a different amount.
At Pat Milliken Ford, we’re happy to help you understand the car-buying process and answer any questions regarding trade-ins. Come see our selection of new vehicles and enjoy a few test drives.
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